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10/25/2024 4:02:02 AM
(MENAFN- Gulf Times) HE Minister of Finance Ali bin Ahmed Al Kuwari participated in the event of the Gulf Cooperation Council (GCC) in cooperation with the World Bank, on the sidelines of the annual meetings of the International Monetary Fund (IMF) and the World bank Group (WBG), which are being held from Oct. 21 to 26, 2024, in Washington, D.C.
In his opening speech, HE the Minister of Finance emphasized the importance of joint efforts, saying: “There are significant achievements worth celebrating, but there is also a great deal of potential that we can build on to grow our economies together and cooperate at the international level.”
This event aims to highlight the achievements of the Gulf Cooperation Council regarding global and regional priorities, as well as opportunities for collaboration in various economic and financial sectors that can drive regional and international economic growth. Additionally, it seeks to showcase the attractiveness of the investment environment in the member states and create opportunities. The event will also discuss the economic and developmental policies expected to be adopted within the framework of joint Gulf cooperation.
HE Minister of Finance Ali bin Ahmed Al Kuwari also participated in the discussion session “Gulf Economic Integration – Achievements and Aspirations” held during the event of the Gulf Cooperation Council in cooperation with the World Bank.
Addressing the session, HE the Minister of Finance said: “The more diversified our economies are, the broader the scope of trade within the GCC countries. Such trade can enhance our region’s resilience compared to longer supply chains.”
“While there are sectors in which our countries naturally compete, there is also ample opportunity for comparative advantage and mutually beneficial trade,” His Excellency added.
The session discussed how GCC countries have benefited from regional cooperation to enhance economic resilience while balancing regional economic priorities with global demands. These efforts aim to build a sustainable competitive advantage, contributing to greater economic integration among member states and enhancing their ability to face global challenges by strengthening partnerships and cooperation in various fields.
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