Saudi Arabia’s Minister of Industry and Mineral Resources, Bandar Alkhorayef has chaired the Kingdom’s delegation at the 56th meeting of the Industrial Cooperation Committee of the Gulf Cooperation Council (GCC).
The meeting, held virtually, was chaired by the Kingdom of Bahrain as part of ongoing regional efforts to strengthen industrial collaboration and economic integration among GCC member states.
The meeting addressed several key industrial topics to enhance collaboration among GCC states. One of the primary focuses was the development of a unified definition of the Gulf national product, which is seen as essential for streamlining industrial standards and improving economic integration across the region.
Another important topic discussed was the completion of the executive plan for goods subject to collective protection, which aims to safeguard critical products within the Gulf by preventing unfair competition and promoting fair trade practices.
Furthermore, the committee made significant strides towards the launch of the Gulf Industrial Platform, emphasizing the need to establish a comprehensive governance framework to guide its implementation.
Furthermore, the meeting approved a recommendation to extend tariffs on iron products, endorsed digital transformation projects for the Technical Secretariat for Combating Harmful Practices in International Trade, and approved a mechanism to strengthen cooperation with the United Nations Industrial Development Organization (UNIDO).
The 56th meeting of the Industrial Cooperation Committee also adopted the findings of a comprehensive study on joint Gulf industrial investment opportunities, marking a significant step toward fostering collaborative industrial growth across the region. The study outlines potential areas for mutual investment and shared industrial projects, designed to strengthen the economic ties between GCC states and drive sustainable development.
