UAE hosts 91st GCC Financial and Economic Committee Meeting


The UAE will be hosting the 91st GCC Financial and Economic Committee Meeting which will be headed by HH Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai, UAE Minister of Finance. The event will be held at the Emirates Palace Hotel in Abu Dhabi on October 22, 2011.

Key topics to be addressed at the upcoming 91st GCC Financial and Economic Committee Meeting in Abu Dhabi include:

* The decisions resulting from the Supreme Council’s 36th session regarding the GCC Customs Union
* GCC participation at the World Trade Organization (WTO)
* Issues pertaining to the team tasked with participating in cooperation meetings and discussions with the European Union (EU) and other countries and financial institutions
* The progress of GCC development projects and initiatives
* The economic judiciary system
* The GCC Railway Project

Taking place ahead of the upcoming GCC Supreme Council Meeting, HE Obaid Humaid Al Tayer, Minister of State for Financial Affairs indicated that the 91st meeting is important as it allows the council to convey a comprehensive picture of various financial and economic issues and joint projects to GCC leaders. HE Al Tayer indicated that the meeting supported the GCC in its efforts to position itself as a strong economic bloc able to influence and compete within the global economy.

“The 91st GCC Financial and Economic Committee Meeting acts as a link between the GCC Supreme Council and its financial and economic committees. The meeting will focus on all the recommendations made by these committees and on the directives resulting from the 36th Meeting of the GCC Committee for Undersecretaries of Ministries of Finance and Economy. It will also shed light on the progress of joint GCC projects,” HE Al Tayer added.

The meeting’s agenda also includes a closed session between the GCC Financial and Economic Committee, the GCC Committee of Governors of the Central Banks and Monetary Agencies and the International Monetary Fund (IMF) Managing Director. The meeting will focus on recent international and regional economic developments, and will highlight policies meant to promote a stable global economic growth which is able to address social issues, reform global financial systems, and organize monetary markets.

Represented by its Ministry of Finance (MOF), the UAE has hosted a large number of regular and exceptions GCC meeting in line with its commitment to supporting the GCC’s financial and economic integration efforts.


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