The United Arab Emirates Ministry of Finance reported that the UAE took part in the 125th meeting of the Gulf Cooperation Council Financial and Economic Cooperation Committee, which approved the GCC Common Market Committee’s Action Plan for 2026–2028, adopted an implementation process for amended measures aimed at combating harmful practices in international trade, and extended increased customs duties on reinforcing steel and steel coils. The meeting also endorsed recent outcomes from GCC committees covering central banks, the customs union, tax administrations and the common market. Discussions focused on GCC economic integration, including customs policies intended to protect national industries, mechanisms to shield international trade from harmful practices, and GCC participation in international forums. Ministers also reviewed the General Secretariat’s report on measures taken in response to current developments, updates on free trade agreement negotiations with various countries and international blocs, developments related to Gulf economic unity, and economic and development integration studies and projects overseen by the Office of the Economic and Development Affairs Authority. Ahead of the ministerial session, the GCC Ministries of Finance Undersecretaries Committee reviewed agenda items requiring decisions, including technical work on international events and proposed amendments to the mechanism for combating harmful trade practices before referral for approval.

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