GCC And CARICOM Aim To Boost Trade, Investment, And Tourism Cooperation

The Gulf Cooperation Council (GCC) has expressed a strong interest in deepening ties with the Caribbean Community (CARICOM), focusing on trade, investment, economy, and tourism sectors. This was highlighted by the Secretary-General of the GCC, Jasem Mohamed Albudaiwi, during his speech at the 16th Business Forum of the Greater Caribbean, which opened in Paramaribo, Suriname.

Albudaiwi referenced a pivotal joint ministerial meeting between the GCC and CARICOM held in New York, where both parties signed a memorandum of understanding and a joint action plan for 2023-2027. This agreement outlines key objectives for enhancing political dialogue, trade facilitation, investment promotion, and tourism cooperation. It aims to boost trade and investment flows and foster cooperation in international forums to tackle global economic challenges.

The forum, under the patronage of Suriname's President Chan Santokhi, saw participation from high-level CARICOM representatives and delegates from various countries and organizations. Albudaiwi emphasized that the GCC's involvement in the forum signifies a commitment to developing a robust partnership with CARICOM and implementing the agreed-upon action plan.

Highlighting the economic achievements of the GCC countries, Albudaiwi noted their status among the world's strongest economies and their appeal as investment destinations. He underscored the GCC member states' ambition to create an economic bloc marked by sustainable development and shared prosperity.

"Today, the GCC countries look forward to advancing their cooperation with the Caribbean Community, to implement the joint action plan, develop our mutual relations, provide an attractive climate for investment and trade between the two sides, and enhance partnership and sustainable development," Albudaiwi stated.

This collaboration between GCC and CARICOM represents a strategic move to leverage mutual strengths and address global economic challenges through shared values and objectives. It marks a significant step towards fostering a more prosperous, equitable, and sustainable future for both regions.

With inputs from SPA