Al-Kuwari urges greater integration, diversification of GCC economies
The State of Qatar participated in the joint meeting of the Ministers of Finance and Governors of Central Banks of the Gulf Cooperation Council (GCC) countries, with Managing Director of the Internati...
Qatar's Finance Minister, Ali bin Ahmed al-Kuwari, and the Governor of the Qatar Central Bank joined the IMF's Kristalina Georgieva for a crucial meeting on Thursday in Manama. They discussed a range of financial and economic matters, focusing on the GCC countries' economic outlook, policy priorities, and challenges in the face of geopolitical shifts and regional turmoil.
The meeting emphasized the need for economic diversification and resilience against economic disruptions. Mr. al-Kuwari stressed the importance of maintaining regional stability and advancing cooperation to achieve greater integration. He praised the IMF's role in assessing economic impacts and forecasting future trends, highlighting the value of ongoing collaboration to ensure financial stability.
The Qatar delegation also took part in the 126th Financial and Economic Cooperation Committee meeting of the GCC, where they reviewed outcomes of related committees, including the GCC Central Banks Governors Committee, the Customs Union Authority, and the Committee of Heads and Directors of Tax Departments. Discussions focused on the GCC Common Market Committee, the General Secretariat's report on current economic developments, and mechanisms for combating harmful trade practices.
The meeting also addressed progress in free trade agreement negotiations between the GCC states and other countries, as well as achievements towards achieving comprehensive economic unity among GCC nations.
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