GCC ministers discuss economic integration

Published on ‘The Gulf Today‘, May 14, 2007, by Business Bureau.

FINANCE ministers of the Gulf Co-operation Council GCC (in english) member states have discussed many important economic topics aimed at boosting economic integration, said Kuwait’s Finance Undersecretary Khalifa Hamada on Sunday.

Hamada, who is representing Kuwait’s Finance Minister Bader Al-Humaidhi at the 73rd GCC economic and monetary ministerial meeting, told Kuwait News Agency (KUNA) that ministers discussed means to overcome obstacles facing the joint customs union, establishing a joint GCC market this year, the monetary union, and the issuance of a common GCC currency by the year 2010.

He added that they reviewed in detail results of the 23rd meeting of finance and economy undersecretaries held here earlier this month, as well as recommendations of the council of governors of GCC central banks and monetary institutions held in Madina last month … (full text).

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