KUWAIT, Nov 21 (KUNA) -- Partnership between public and private sectors is essential in order for GCC economic correlation and unity to be achieved, said Minister of Commerce and Industry Khaled Al-Roudhan Wednesday.
Economic correlation is neither an option nor a proposal any more, especially in the age of major global alliances, which requires a qualitative partnership between public and private sectors to solidify economies of the GCC countries against setbacks, noted Minister Al-Roudhan in a speech at the opening of the 4th consultative meeting of ministers of trade and industry and heads of trade unions and chambers of the GCC. Kuwait is hosting the one-day meeting.
"We need to be an integral part of the global transformation through providing a sound and ever improving business environment." Gulf countries had made significant strides in terms of eradicating obstacles on the way of commercial and industrial progress, Al-Roudhan pointed out, adding that GCC (Gulf Cooperation Council) countries "are bonded by mutual history and interests. His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, along with his brothers; GCC leaders, are keen to maintain such entity." There is also a pressing necessity to establish legislative and institutional bodies that would contribute in steering projects and managing businesses, Al-Roudhan stressed.
The consultative meeting aims at easing tariff procedures among GCC members, as well as addressing impediments in face of establishing a common GCC market. (end) skm.hb