The GCC Financial and Economic Cooperation Committee held today, via video conferencing, its 111th meeting with the participation of the Ministers of Finance and Economy of the GCC countries.The Sultanate’s delegation in the meeting was led by Darwish bin Ismail  al-Balushi, Minister Responsible for Financial Affairs.

The Committee reviewed the precautionary and incentive measures, as well as the efforts undertaken by the GCC countries to confront the novel coronavirus (Covid-19) and its financial requirements.

The GCC Finance Ministers stressed the need to continue to coordinate precautionary measures among the GCC states on all sectors to support the economic recovery, as well as to facilitate the movement of goods among the GCC countries, especially goods and shipments related to consumer and basic materials related to economic growth in general.

The meeting discussed a number of recommendations submitted by the GCC Committee of Governors of Monetary Institutions and Central Banks, the GCC Customs Union, and the recommendations of the Gulf Common Market Committee. It also discussed subsidy of the purchases of Gulf national products and other topics related to joint financial and economic cooperation, and the Gulf Common Market. The meeting took appropriate decisions regarding them. ONA