His Excellency Eng. Sultan Bin Saeed Al Mansoori, UAE Minister of Economy, has recently chaired the UAE delegation to the 45th meeting of the Gulf Cooperation Council (GCC) Committee for Trade Cooperation, held in Al Riyadh.
The GCC Ministers discussed during the meeting, the common law to combat commercial fraud, of the Gulf Cooperation Council and the Secretariat's note on self-financing of the Centre for Commercial Arbitration of the GCC countries.
The meeting saw the recommendation to approve the adoption of the costs of the comprehensive study on the flow of goods to the GCC States, in the event Hormuz closure, as recommended by undersecretaries committee of trade cooperation. The GCC Secretariat will address consulting firms to identify cost of required studies.
On this occasion, HE Al Mansoori said that the time has come for Gulf Cooperation Council to take practical steps to support economic unity. He pointed out that this meeting comes in light of the circumstances and developments that require us to share efforts that would achieve the immediate interests of the citizens of GCC countries and work to resolve any obstacles and difficulties that may encounter.