(MENAFN- Gulf Times) The Gulf Co-operation Council (GCC) countries are inching towards establishing a unified mandatory legislative framework for e-commerce among the countries, and preparing a unified law for commercial franchise.
These, amongst other key topics, were discussed at the 58th preparatory meeting of the Undersecretaries of Commerce Committee, and the GCC's 44th meeting of the Undersecretaries of Industry, chaired by Mohamed bin Hassan al-Malki, Undersecretary of the Ministry of Commerce and Industry (MoCI).
At the 65th Trade Co-operation Committee meeting in 2023, the GCC ministers had mulled the formulation of a unified legislative framework governing e-commerce across the Gulf region, based on flexible principles.
The officials discussed several topics in the preparatory meeting of commercial co-operation committee, including the construction of a committee specialised in investment.
They also discussed commercial laws updates such as the consumer protection law and the competitiveness law.
The meeting also discussed the work of the small and medium enterprises (SMEs) and entrepreneurship committee, the internal trade committee, and the external trade committee; reviewed the updates of the negotiations of free trade with countries and international blocs, and other topics of common interest to the GCC countries.
The officials reviewed the proposal of establishing an electronic platform for Gulf industrial projects and joint projects to act as a database that helps investors to access information of the industrial sector, as well as to review member countries experiences in the field of future factories, combating harmful practices, and protecting Gulf industries from unfair competition.
"These meetings are part of the ongoing efforts to reinforce joint action and achieve joint goals and aspirations of the GCC countries, aimed at developing various sectors especially commerce and industry in a way they will contribute to driving economic development in member countries," said al-Malki in the presence of Khalid bin Ali al-Sunaidi, Assistant Secretary-General for Economic and Development Affairs at the General Secretariat of the GCC.
Saleh bin Majid al-Khulaifi, Assistant Undersecretary for Industrial Affairs and Business Development, and Ayedh al-Qahtani, acting Assistant Undersecretary for Commerce Affairs at MoCI, were present at the meeting.
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