LOC09:51
06:51 GMT
By Khlood Al-Enezi
MANAMA, Dec 2 (KUNA) -- Over decades, Bahrain has hosted seven GCC summits that marked major milestones in strengthening political, economic, and security integration among member states and advancing joint Gulf action.
These summits adopted landmark decisions that reinforced GCC institutional development and responded to the aspirations of Gulf leaders and peoples for deeper cooperation.
The Third Summit, held in Bahrain in 1982, approved the establishment of the Gulf Investment Corporation with capital of USD 2.2 billion to support joint projects and enhance development capabilities.
The summit also issued defense recommendations that laid the foundation for a new phase of Gulf security coordination.
The Ninth Summit in 1988 represented a major step toward economic integration by approving citizen participation in companies across member states and facilitating cross-border capital movement.
These measures strengthened investment flows and expanded the base for Gulf economic cooperation.
The 15th Summit in 1994 emphasized security coordination, affirming a unified Gulf stance against extremism, violence, and terrorism.
The 21st Summit in 2000 supported implementation of the GCC customs union, initiated steps toward a unified currency, and approved the Joint Defense Agreement.
The 25th Summit in 2004 addressed key regional issues and urged unencumbered UN cooperation with the Iraqi interim government to recover Kuwaitآ’s national archives and assets seized by the former Iraqi regime.
In 2012, Bahrain hosted the 33rd Summit amidst sensitive regional conditions. The summit focused on enhancing defense and security cooperation, as well as reinforcing GCC's ability to face accelerating challenges.
The 37th Summit in 2016 examined boosting political, security, and economic cooperation amid regional and international changes.
Bahrain is now gearing up to host the 46th Summit, on December 3, at a critical time that requires augmenting coordination and cooperation.
The summit is expected to delve into political, security, and economic files to further bolster regional stability and strengthen Gulf cooperation. (end)
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