Dr. Nayef Falah Al-Hajraf, Secretary-General of Gulf Cooperation Council (GCC), said that collaborative efforts by public and private sectors across GCC countries are crucial in the recovery process from economic repercussions of the COVID-19 pandemic. It will further boost much-needed global economic growth and facilitate the easing of lockdowns and restrictions across various sectors. It is important for GCC countries to ensure joint efforts by both public and private sectors to ensure smooth resumption of commercial activities and increase in public spending such that the economic gains achieved before the pandemic outbreak are sustained and there is continuous growth across various sectors.

The remarks were made by Dr. Al-Hajraf in a statement to the Emirates News Agency (WAM) on the sidelines of the 55th meeting of the Federation of GCC Chambers hosted by the UAE from June 7-9, 2021.

In his statement, Dr. Al Hajraf pointed out that the value of trade between GCC countries exceeded US$90 billion in 2019. However, it does not meet the goals and objectives of GCC leaders and peoples.

Therefore, he called for encouraging more trade between GCC countries to achieve the desired goals. As of now, trading across GCC countries constitutes a massive market of over 58 million people with a combined GDP totaling approximately $1.590 trillion in 2019.

In this regard, he highlighted the key role played by the private sector in strengthening GCC trade.

He also stressed the need for exploring the challenges and obstacles faced by the private sector across GCC countries in order to address them promptly and enhance the sector's role in boosting GCC exports. GCC's combined private sector is working continuously to overcome various challenges and develop adequate appropriate solutions.

Dr. Al-Hajraf further discussed the ongoing cooperation between the GCC Secretariat-General and the Federation of GCC Chambers, noting that a high-level joint action team has been established to hold regular meetings to review and monitor all mutual issues and developments.

Earlier, a consultative meeting of the heads of federations and chambers of GCC countries and ministers of commerce took place on November 4, 2020. He added that meetings are underway with members of the GCC Customs Union Authority to boost trade.

In conclusion, Al-Hajraf highlighted the keenness of GCC leaders to boost overall cooperation across countries, particularly in economic and development areas. Lauding the significant efforts to hold joint GCC meetings, he stressed the need for prioritising relevant strategic projects to enhance cooperation and partnerships.

WAM