GCC Secretary-General emphasises strength of Gulf economy
Muscat: His Excellency Jassim Mohammed Al Budawi, Secretary-General of the Gulf Cooperation Council, emphasised the strength of the Gulf economy and its ability to face economic challenges.
This came during His Excellency’s recorded speech at the roundtable meeting between the Gulf Cooperation Council and American companies, which was held under the auspices of the American Chamber of Commerce in Washington, DC, USA.
His Excellency the Secretary-General stated that the steps taken by the GCC countries to strengthen trade and investment ties between them and the United States focused largely on the mutual benefits of this economic partnership.
His Excellency also stressed that the six Gulf Cooperation Council countries enjoy long-term and strong trade and investment relations with the United States, and these relations are witnessing clear and significant progress, explaining that these partnerships play a pivotal role in promoting economic growth, innovation and development across various sectors.
During his speech, His Excellency the Secretary-General also reviewed some statistics that confirm the progress of cooperation between the two sides, such as bilateral trade between the Gulf Cooperation Council countries and the United States in 2023, reaching approximately $180 billion. His Excellency also pointed to the great successes of the Gulf Cooperation Council countries in Energy sectors, which rank first globally in crude oil production and reserves and second in natural gas reserves.
His Excellency also touched on future strategic Gulf projects, such as the Gulf Railway Project, which will contribute to enhancing connectivity between the Middle East countries and providing great cooperation opportunities with American partners. He said that the GCC countries are working at an accelerated pace to develop digital infrastructure and move to a diversified economy based on technology.
Towards the end of his speech, the Secretary-General expressed the commitment of the GCC countries to promoting stability and development in the region, pointing to the ongoing Gulf efforts to resolve regional disputes and promote peace and security to achieve further growth and prosperity, and the determination of the GCC countries to deepen cooperation with the United States and ensure economic growth. Sustainable for future generations for both sides.
