UAE fully backs efforts to boost GCC economic integration plan

The UAE has taken part in the I23rd Ministerial Meeting of the Gulf Cooperation Council (GCC) Financial and Economic Cooperation Committee, held on Sunday in Kuwait, bringing together Their Excellencies, the Ministers of Finance of the GCC member states.

- Staff Reporter, Gulf Today

Led by Mohamed Bin Hadi Al Hussaini, Minister of State for Financial Affairs, the UAE delegation featured Khalid Ali Al Bustani, Director-General of the Federal Tax Authority (FTA); and Ali Abdullah Sharafi, Acting Assistant Undersecretary for International Financial Relations.

A number of specialists from the Ministry of Finance, the Federal Tax Authority, the Federal Authority for Identity and Nationality, Customs and Port Security also accompanied the delegation.

ADVANCING ECONOMIC INTEGRATION: The meeting discussed priority issues to strengthen financial and economic cooperation across the GCC, where appropriate decisions were taken accordingly.

Topics addressed include the outcomes of the 84th Meeting of the Committee of the Governors of the Central Banks in the GCC Countries, recent sessions of the GCC Customs Union Authority, and the 14th meeting of the Committee of Heads and Directors of Tax Departments in the GCC Countries.

Ministers also reviewed the latest developments related to the Gulf Common Market, along with recommendations stemming from a joint event hosted by the UAE Ministry of Finance and the GCC General Secretariat on the sidelines of the World Government Summit in February 2025.