RIYADH: Gulf Cooperation Council Secretary-General Jasem Al-Budaiwi affirmed that the GCC states continue, with determination and firmness, their efforts to enhance economic integration, within the framework of their diligent pursuit of achieving Gulf economic unity and consolidating the position of the GCC states as a leading global hub in the economic and development fields.
This came during the 70th meeting of the GCC Commercial Cooperation Committee, held April 30 via videoconference, chaired by the Minister of Industry and Commerce of Bahrain, President of the current session, Abdullah bin Adel Fakhro, and attended by the GCC ministers of commerce.
Al-Budaiwi stated that the meeting is being held at a delicate stage following the blatant Iranian attacks that targeted the GCC states, which require moving from the level of traditional coordination to a higher level of practical integration and effective response.
The GCC secretary-general said: “The escalating challenges witnessed by our region are no longer merely a passing circumstance, but rather represent a real test of our ability to protect our achievements and ensure the continuity of our vital sectors with efficiency and steadfastness.”
He underscored in his remarks that building a strong and sustainable economy can only be achieved through cooperation and unified integration among states.
He added: “The GCC states continue, with determination and firmness, their efforts to enhance cooperation and economic integration, within the framework of their diligent pursuit of achieving Gulf economic unity and consolidating the position of the GCC states as a leading global hub in the economic and development fields.”
“The GCC states also continue to address global economic challenges and work with full seriousness to accelerate the implementation of development projects,” Al-Budaiwi said.
He further said that the GCC states are diligently seeking to realize the visions and objectives of the GCC leaders in enhancing cooperation and economic integration in general, and commercial integration in particular, by removing obstacles and increasing trade exchange among member states, while also working to improve the flow of goods and services toward achieving the desired economic unity.
In conclusion of his statement, Al-Budaiwi reviewed some statistics, stating that the gross domestic product at current prices of the GCC states reached around $2.4 trillion in 2025, ranking 10th globally in terms of GDP size.
He also stated that the volume of intra-GCC trade among the member states, measured by total intra-GCC merchandise exports, exceeded $146 billion in 2024, with an annual growth rate of 9.8 percent, which confirms the growing strength and widening scope of Gulf trade exchange.
