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GCC Secretary-General Jasem Mohamed Albudaiwi outlined the goals of the 15th consultative meeting during its session in Manama where ministers of commerce and industry along with heads of chambers discussed ways to strengthen economic ties. According to the Emirates News Agency the gathering focused on fostering integration amid regional challenges and building on directives from GCC leaders to support the private sector. Albudaiwi highlighted how such meetings advance unified policies that promote sustainable development and competitiveness. The event brought together representatives from all six member states to review progress on joint initiatives.
A statement from the Qatar Chamber reported that Sheikh Khalifa bin Jassim bin Mohamed Al Thani chairman of the Federation of GCC Chambers stressed the need for deeper Gulf integration and a resilient logistics network capable of adapting to disruptions. The discussions emphasized coordination between governments and private sector entities to safeguard trade routes and reduce costs. Participants reviewed practical steps to improve the movement of goods and enhance overall economic stability. This consultative format has served as a key platform for aligning strategies since the early years of the bloc.
GCC Statistical Centre data places intra-GCC merchandise trade at approximately 146 billion dollars in 2024 reflecting a 9.8 percent increase from the previous year. The centre’s figures show non-oil exports within the bloc rose 3.7 percent to 45 billion dollars while re-exports grew 19.1 percent to 68 billion dollars. These trends demonstrate the impact of prior cooperation agreements on expanding commercial exchanges among Saudi Arabia the UAE Kuwait Qatar Bahrain and Oman. The statistics underscore steady growth in intra-regional activity over the past decade.
According to the GCC Secretary-General more than 22 000 factories operate across the bloc employing over 1.7 million workers and contributing 13 percent to regional GDP. Albudaiwi noted during related forums that five joint industrial investment opportunities have been approved as part of an initiative targeting 20 projects to deepen manufacturing integration. The United Nations Industrial Development Organization index ranks GCC states among global performers with the UAE at 32nd and Saudi Arabia at 34th. Such developments align with the meeting’s focus on industrial cooperation.
An International Monetary Fund assessment found that GCC growth is projected to accelerate as hydrocarbon output stabilizes and non-oil sectors expand. The fund’s data indicates non-hydrocarbon activity has remained robust supporting diversification across member states. IMF reports emphasize that continued policy alignment on trade and investment will help sustain momentum in the coming years. These projections provide context for the consultative meeting’s emphasis on economic resilience.
World Bank data shows foreign direct investment into the GCC has supported infrastructure and technology initiatives that complement the bloc’s integration efforts. The bank’s analysis highlights how unified commercial regulations have facilitated cross-border projects and market access. Officials at the Manama meeting called for further steps to harmonize standards and boost competitiveness. Outcomes from the session are expected to feed into broader GCC economic strategies.
