LOC21:27
18:27 GMT
DOHA, May 1 (KUNA) -- Qatar's Minister of Commerce and Industry Sheikh Mohammad bin Hamad said Wednesday the Gulf private sector has played a pivotal role in backing GCC commercial, industrial and economic systems.
Sheikh Mohammad made the statement while chairing a consultative meeting of GCC ministers of commerce and industry, and heads of the GCC Chambers of Commerce and Industry.
He pointed to challenges in the world that require innovating processes to enhance partnerships and coalitions among GCC business sectors and making further efforts to create means of boosting the private sector and different commercial bonds.
Meanwhile, GCC Secretary General Jasem Al-Budaiwi said the periodical meeting is a prominent chance to share views and ideas, and study means of establishing consistent and complete ties between the public and private sectors.
He said he looks forward to reaching initiatives supporting the GCC private sector growth to be a robust economic factor for development and economic stability witnessed in the GCC members and enhance their positions internationally as a global economic, investment and financial hub.
For his part, Faisal Al-Rawas, President of the Federation of GCC Chambers (FGCCC), said the GCC member states have made growth in all economic sectors that contributed to an increase of gross domestic product (GDP).
He noted that the GCC members achieve advanced positions in several international rankings including the ease of doing business and competitiveness that better helped to attract foreign interments in the region.
The meeting stresses the extent of Gulf partnership between the public and private sectors focusing on the GCC economic development, he pointed out. (end)
sss.hm