Oman Participates in 123rd Meeting of GCC Financial,
Economic Cooperation Committee

Kuwait, 1 Jun (ONA) — The Sultanate of Oman today participated
in the 123rd meeting of the GCC Financial and Economic Cooperation Committee,
held in Kuwait. Oman’s delegation was led by Sultan Salim Al Habsi, Minister
of Finance.

The meeting discussed the outcome of the 84th meeting of the
GCC Central Bank Governors Committee, the meetings of the GCC Customs Union
Authority, the 14th meeting of the GCC Tax Departments Committee and the 42nd
meeting of the Gulf Common Market Committee.

The meeting also reviewed the impacts of the recent rise in US
customs duties on GCC states.

The GCC Financial and Economic
Cooperation Committee reviewed statistics on the Gulf Common Market, the
progress of negotiations on free trade agreements between GCC states and other
countries and international groups, the outcome of signing and ratification
of the agreement on the GCC Payment Linkage System, studies and projects under
review by the Office of the GCC Economic and Development Affairs Authority and updates
about a programme on achieving economic unity among GCC states, in addition to other
matters of common concern.

On the sidelines of the meeting, the GCC Secretariat General
launched a media campaign titled “All the Gulf is a Homeland”. The
campaign aims to raise awareness about equal economic and social rights and
benefits offered to GCC citizens within the framework of the Gulf Common
Market. It also reflects the GCC states’ commitment to the concept of the GCC
citizenship.

— Ends/Bishara