GCC Ministries of Finance and Economy Meeting to Kick Off Saturday

Article Date: 18:59 2010/05/05
Article ID: 0054
Riyadh, May 05 (QNA) - Finance and Economics ministers of the Gulf Cooperation Council (GCC) are meeting at the GCC Secretariat in Riyadh, Saudi Arabia on Saturday. GCC Secretary General Abdurrahman bin Hamad Al-Attiyah highlighted the particular importance of this meeting, which will precede the 12th consultative meeting of GCC leaders, due to be held in Riyadh on Monday. He explained that the meeting will focus on the recommendations and outcomes of the joint meeting of the GCC Customs General Managers and the customs union''s committee, pursuant to the resolution adopted by the 30th session of the GCC Supreme Council hosted by Kuwait on December 14-15 2009. It will further discuss the economic aspects of Qatar''s Vision to activate the GCC council, including the establishment of a joint bank for development and joint investment in all sectors, particularly in education and health, H.E. Al-Attiyah said. The meeting will also consider the economic side of the Bahrain Vision to develop the GCC council and its proposal to establish a special fund for financial and economic stability, he added. On the same context, H.E. Al-Attiyah pointed out that the meeting will study means of implementing the Supreme Council''s decisions in response to the financial crisis and its impact on GCC countries. Concluding, the GCC Chief said, the meeting will as well focus on GCC the committees of joint economic action, including the GCC common market, the Committee of Governors of GCC Monetary Institutions and Central Banks and the GCC joint railway network. (QNA) f l/OM