New GCC panel to boost economic ties
(MENAFN- The Peninsula) Emir H H Sheikh Tamim bin Hamad Al Thani with the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud of Saudi Arabia in Jeddah yesterday.
DOHA: Emir H H Sheikh Tamim bin Hamad Al Thani yesterday attended the 16th GCC consultative meeting in Jeddah, which decided to set up a high-level agency to boost economic cooperation between the member states.
“The GCC leaders have approved formation of a high-level commission among the member states named “Commission of Economic and Developmental Affairs” in order to enhance integration and coordination among the GCC countries in economic and development sectors and accelerate the pace of joint action,” GCC Secretary General Abdullatif bin Rashid Al Zayani said in a joint press conference, after the meeting, with Saudi Foreign Minister Adel bin Ahmed Al Jubeir.
He added that the GCC leaders approved a regulation of Economic Judiciary Commission as mentioned in the economic agreement among the GCC states in the interest of the GCC citizens. The leaders also agreed on holding a joint regular meeting of GCC defence, interior and foreign ministers for coordinating policies among the GCC states. Al Jubeir said that the economic and development affairs commission will have powers for providing solutions, stressing that this commission aims to apply economic integration among the GCC countries.
“In the past, different ministries dealt with economic and financial issues in order to submit them to relevant committees for the leaders. This commission represents a quantum leap regarding economic and financial issues among the GCC states,” Al Jubeir said. On the ongoing negotiations in Kuwait, he pointed out that the negotiations are being held on the basis of the GCC initiative, outputs of the national dialogue and decision No 2216 of the Security Council, Saudi Press Agency SPA reported.
“Several paths have been agreed upon with respect to withdrawals, delivery of arms and state institutions in Yemen. There are existing negotiations between the concerned parties,” said Al Jubeir. He added that it is early to evaluate seriousness of the Israeli side to start negotiations based on the Arab peace initiative.
The Peninsula