UAE's Ministry Of Finance Highlights Strategic Role In Advancing GCC Financial And Economic Integration

The Ministry of Finance (MoF) recently held a significant briefing at the Ministry of Foreign Affairs in Abu Dhabi. The focus was on Gulf financial and economic integration, highlighting the UAE's pivotal role in supporting joint Gulf initiatives. This event aimed to enhance awareness about regional economic integration and its benefits for individuals, institutions, and the private sector.

Senior officials from both ministries attended the session. Notable attendees included Younis Haji AlKhoori, Undersecretary of the Ministry of Finance, and Ali Abdullah Sharafi, Acting Assistant Undersecretary for International Financial Relations. From the Ministry of Foreign Affairs, Omar Obaid Al Hassan Al Shamsi and Abdullah Mohammad Abdul Rahman Al Bulooki were present among others.

The meeting took place as GCC countries continue efforts to establish a common market. Discussions covered key topics such as the structure of joint Gulf economic action and progress in the Customs Union and GCC common market. The Ministry of Finance's role in monitoring Gulf agreements was also highlighted.

Younis Haji AlKhoori emphasised that Gulf financial and economic integration is a strategic priority reflecting shared GCC interests. He stated, "The UAE is committed to turning this vision into tangible initiatives that cement the Gulf Common Market." This commitment includes facilitating capital movement and enhancing tax system efficiency across member states.

The session also explored preparations for the UAE's upcoming presidency of the GCC in 2026. Plans to launch awareness campaigns aimed at strengthening cooperation among member states were discussed. The UAE aims to play a crucial role in shaping future plans and strengthening integration initiatives.

AlKhoori added that the Ministry of Finance is crucial in implementing GCC resolutions and developing cooperation frameworks. He said, "We will continue to coordinate closely with our partners to launch forward-looking initiatives that reinforce financial stability." This aligns with efforts to boost economic development across the Gulf region.

Future Initiatives

This high-level briefing is part of a broader plan by the Ministry of Finance to promote economic awareness and strengthen institutional engagement. It highlights the UAE's strategic role in implementing the GCC Unified Economic Agreement, which covers key areas of financial integration.

The agreement aligns with the ministry's goals of deepening economic integration and advancing national interests. The ongoing preparations for 2026 demonstrate a commitment to fostering cooperation among member states through strategic initiatives.

The event underscored how these efforts are not just developmental but reflect a unified vision for regional prosperity. By engaging key partners, the UAE aims to shape future plans that strengthen integration across various sectors within the Gulf region.

With inputs from WAM