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Al-Badawi: Gulf economic unity shown by figures
The Secretary-General of the Gulf Cooperation Council, Jassim Muhammad Al-Budaiwi, emphasized that strengthening economic integration among Gulf countries—including completing the Customs Union and the Common Gulf Market—is fundamental to enhancing the global competitiveness of these economies. During the preparatory committee meeting of the member states in Manama, Al-Budaiwi reviewed economic indicators demonstrating the region's progress, highlighting that the GCC countries' gross domestic product (GDP) has reached approximately $2.4 trillion, with the non-oil sector contributing 79%. Bilateral trade has risen to over $177 billion, and the intra-regional investment balance exceeds $171 billion, representing more than 21% of foreign direct investments in the region. These figures underscore the strength and development of Gulf economic cooperation, while reaffirming the importance of continuing projects and reforms to achieve sustainable development and a competitive global standing.
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