The United Arab Emirates Ministry of Finance participated in the 126th Gulf Cooperation Council Financial and Economic Cooperation Committee meeting in Bahrain, where member states reviewed progress toward deeper financial and economic integration. Discussions focused on improving the GCC Common Market, strengthening shared legislative and regulatory frameworks, and facilitating regional trade and investment. The committee assessed developments in financial, tax and customs cooperation, including progress on the agreement to link payment systems across GCC states. It also considered GCC free trade agreement negotiations, economic integration projects and measures addressing injurious practices in international trade. Mohamed bin Hadi Al Hussaini, UAE minister of state for financial affairs, called for further development of common policies, regulations and procedures, with integration efforts reflecting technological change and the growth of the digital economy.

Original source