The Ministry of Finance (MoF) will be hosting the 36th meeting of the Gulf Cooperation Council (GCC) Committee for Undersecretaries of Ministries of Finance and Economy in the Emirates Palace Hotel in Abu Dhabi. Taking place on October 2, 2011, the meeting will highlight the preparations for the 91st GCC Financial & Economic Cooperation Committee meeting which is scheduled to be held on October 21-22, 2011 in the UAE capital.
During the event, attendees will be following up on the progress of the implementation of decisions and plans made by different GCC financial and economic committees, such as the Committee of Governors of Monetary Agencies and Central Banks, the GCC Customs Union Committee, and the team tasked with preparing and participating in cooperation meetings and discussions with the European Union (EU) and other countries and financial institutions. The meeting’s agenda also includes a review of key accomplishments made by the Gulf Common Market Committee, the financial and technical team tasked with finalizing studies regarding the GCC railway project, and the team concerned with researching and studying the economic judiciary system.
Commenting on the upcoming 36th meeting, HE Younis Haji Al Khouri, Undersecretary of MoF, said: “This meeting is meant to provide a platform for discussing financial issues pertaining to the GCC which will be further elaborated during the 91st GCC Financial & Economic Cooperation Committee meeting. The 36th meeting will also evaluate work progress of different joint GCC projects, in addition to reviewing the latest decisions issued by the GCC Supreme Council during its latest 31st session. It will also highlight the UAE’s request to adopt electronic certificates of origin.”
The upcoming 36th meeting will also discuss the extension in implementing the decision to apply customs tax and duty exemptions on national products within GCC borders. Participants will also evaluate the initiatives proposed by the GCC to the World Trade Organization (WTO), and will review joint GCC investments in the education and health sectors.