King Abdullah: Let us have a new Gulf Union
The statement did not explain the type of membership to be given to the new entrants
Click here to add Baghdad as an alert
Disable alert for Baghdad,
Click here to add General Secretariat as an alert
Disable alert for General Secretariat,
Click here to add Gulf Cooperation Council as an alert
Disable alert for Gulf Cooperation Council,
Click here to add Ministerial Council as an alert
Disable alert for Ministerial Council,
Click here to add Riyadh as an alert
Disable alert for Riyadh
The six-nation Gulf Cooperation Council concluded its two-day summit in Riyadh on Tuesday with the bloc's leaders vowing to support the historic initiative of Custodian of the Two Holy Mosques King Abdullah to transform the GCC into a single powerful regional entity.
The proposal to transform the GCC into a union of Gulf states, which will herald a new era of Gulf cooperation amid changing regional alliances, figured prominently in the final communiqu issued by GCC heads of state.
The Saudi King, who is also current chairman of the GCC, had made the proposal in his opening speech to the 32nd session of the supreme council of the GCC in Riyadh. The leaders have given directives to the Ministerial Council to form a specialized body comprising three members from each state.
The body will be mandated to study the proposal in all its aspects in the light of the views exchanged among the leaders."The meetings of the board will be held at the headquarters of the General Secretariat, which will provide all necessary administrative, technical and financial support.
The GCC supreme council has assigned the finance ministers of its members to study the statute and structures needed to create the Union fund, said the statement without giving any timeframe for Jordan and Morocco to become members. The statement also did not explain the type of membership to be given to the new entrants.
The statement appreciated the role of Sheikh Khalifa bin Zayed Al-Nahayan of the UAE for his untiring efforts to promote the GCC during his country's chairmanship. GCC heads of state threw their weight behind Kuwait and urged Baghdad to normalize ties with its neighbor.
- Jordan secures EU finance for socioeconomic and environmental programs
- US, EU protectionist policies may be a blessing in disguise for GCC suppliers
- Dubai to Doha: How far can you stretch your dirham?
- Tunisia 2020 investment conference: 145 mega projects on offer
- GCC tax on expats' income and remittances would be highly regressive: IMF
- Mixed signals: why King Abdullah's passing could not have come at a worse time for Saudi's oil sector
- Let the games begin! Hussain al Jasmi & Rabeh Sager to kick off the Gulf Cup of Nations with new duet
- New 'Gulf Union' delayed
- GCC Members Vow to Drive for Customs Union
- The time has come for a GCC union