GCC Economic Integration Dialogue: MoF And UAE Firms Explore Opportunities And Challenges

The Ministry of Finance organised a second high‑level dialogue with senior executives from UAE companies active in Gulf Cooperation Council countries, under the theme "Enhancing Gulf economic integration within the framework of the Enhancing Gulf Economic Integration within the Framework of the GCC Common Market: Opportunities and Challenges Facing UAE Companies Operating in GCC Countries". The roundtable built on a first dialogue in September 2024 and focused on practical issues.

The meeting brought together Younis Haji AlKhoori, Undersecretary of the Ministry of Finance, and Khalid Al Sunaydi, Assistant Secretary-General for Economic and Development Affairs at the GCC Secretariat. Also present were Humaid Mohammed bin Salem, Secretary-General of the Federation of UAE Chambers of Commerce and Industry, Koralai Kirabaeva from the International Monetary Fund, and representatives from chambers of commerce and Emirati companies.

Participants reviewed evidence of growing Gulf economic integration, including increased travel, trade and investment links among GCC states. GCC nationals recorded more than 41.4 million cross‑border visits, a rise of 188.5 percent since 2007. Commercial licences issued to GCC nationals reached 96,300, an increase of 558.8 percent, while cross‑border property ownership exceeded 17,900 cases, up 162.1 percent.

The number of public joint‑stock companies whose shares are open to GCC nationals rose to 748, while higher education enrolment for GCC students expanded by more than 364 percent. The region now hosts 25 major ports, and the GCC commercial fleet represents 54.2 percent of the Arab maritime fleet, underlining the scale of regional transport connectivity.

These trends sit within a wider economic context. GCC states share a combined gross domestic product above US$2.1 trillion and merchandise trade of US$1.5 trillion. Sovereign wealth fund assets in the bloc are estimated at US$4.4 trillion, supporting investment capacity for regional projects that can deepen the GCC Common Market and long‑term sustainable growth.

Against this background, the dialogue aimed to strengthen Gulf economic integration by addressing operational challenges facing Emirati companies in GCC markets. Officials and executives reviewed existing regulatory frameworks and identified gaps affecting business flow. They discussed potential policy adjustments, with the goal of presenting actionable solutions to decision‑makers and improving the wider Gulf economic environment.

In opening remarks, Younis Haji AlKhoori said the platform aligns with the Ministry of Finance’s approach to engage directly with the private sector. AlKhoori highlighted the value of exchanging views on opportunities and challenges in Gulf markets and noted the dialogue supports joint Gulf efforts to accelerate delivery of GCC Common Market commitments across member states.

AlKhoori underlined the link between regulation and business needs, noting the importance of balanced frameworks that reflect economic realities. He said the Ministry plans to keep improving tools that support Gulf economic cooperation, in line with UAE leadership directives. AlKhoori also stressed that structured engagement with companies can enhance transparency and contribute to more informed public policy choices across the region.

AlKhoori said, "At the Ministry of Finance, we are committed to engaging with national companies operating across GCC markets, understanding the challenges they face, and exploring effective solutions to support their growth and expansion through a dynamic and competitive economic environment."

Private sector role in Gulf economic integration and GCC Common Market

Ahmed Jasim Al Zaabi said the dialogue reflects the strategic partnership between the Ministry of Finance and the FCCI to empower the private sector and strengthen its role in supporting and integrating the GCC Common Market. He added that discussions examined regulations and policies that shape economic, commercial and investment activity and considered how these frameworks could be further upgraded.

Delegates focused on ensuring fair access for Emirati companies operating across GCC jurisdictions and on practical steps that could streamline cross‑border operations. Participants also emphasised that predictable rules and equal opportunities are important for businesses planning long‑term investments, especially in sectors that rely on regional supply chains and shared infrastructure within the GCC.

The programme featured detailed presentations from several institutions. The Ministry of Finance outlined outcomes from the first dialogue and progress achieved since September 2024. The GCC General Secretariat presented current supporting regulations and policies, while the International Monetary Fund discussed the role of private sector activity in advancing the GCC Common Market and strengthening resilience.

Company representatives used the platform to share on‑the‑ground experience from operating in different GCC jurisdictions. Proposals covered ways to expand cooperation, promote joint investment, and enhance market integration, including suggestions on customs procedures, licensing processes and data sharing. Participants viewed public‑private partnerships as central to deeper GCC integration and reiterated the UAE’s commitment to contribute actively to GCC Common Market development.

The dialogue concluded with broad agreement that sustained engagement between government bodies and businesses is needed to address ongoing challenges. Officials noted that the progress in Gulf economic integration, supported by strong macroeconomic indicators and growing private sector participation, provides a solid base for further steps that can support UAE companies and the wider GCC Common Market.

With inputs from WAM