50th meeting of GCC Commerce Ministers kicks off

GCC Ministers of Commerce held their 50th meeting in Saudi Arabia on Wednesday, headed by Kuwaiti Deputy Prime Minister and Minister of Commerce Abdulmohsen Al-Madaj.
GCC countries are eager to develop their commercial cooperation on all national, regional and international levels, said Al-Madaj in his opening speech. The Deputy Premier hailed the efforts of the GCC to create equal business opportunities ffor the citizens of member countries by establishing the joint GCC market.
Undersecretaries of the ministries of commerce presented a number of vital recommendations to the GCC Ministers of Commerce, during their preparatory meetings, he said. They included executive regulations for commercial brands law, supporting the GCC audit bureau and a joint GCC exhibition, he noted.
Assistant Secretary General for Economic Affairs in the GCC General Secretariat, Abdullah Juma Al-Shibli, on his part, said that the GCC commercial cooperation committee had achieved many goals in the economic development among its member countries.
The committee aims to allow the GCC private sector to create joint commercial cooperation, while also allowing the citizens to engage in different commercial activities and open branches for their companies, Al-Shibli said.
Meanwhile, the GCC Ministers of Industry held their 39th meeting after the commerce meeting was concluded, discussing removing obstacles facing industries in the GCC region, unifying industrial strategies and initiatives for small and medium-sized enterprises.