(MENAFN) President of the Gulf Cooperation Council are eager to see the group accomplish “the highest levels of economic integration,” as stated by Saudi Finance Minister Mohammed Al-Jadaan.
While giving his speech at the 117th Conference of the GCC Financial and Economic Cooperation Committee in Riyadh on Monday, Al-Jadaan emphasized the necessity of creating a Gulf joint market for the support of the GCC people.
He stated that the economies of the GCC nations are not safe from the impact of the financial crises the across the whole world but they challenge such problems by implementing a positive approach.
He stated that “Yes, we are benefiting from higher oil prices, but the strong growth we are seeing is primarily driven by the reforms we have implemented.”
The Saudi finance minister mentioned that the worldwide economy is dealing with huge obstacles, whereas the impacts of the pandemic stay, provision chain problems continues, energy and food markets are on a decline, with inflation hiking to its peak rates in many years.
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