UAE affirms support for joint Gulf action in implementing "Al-Ula Summit" decisions
The Minister of State for Foreign Trade, Thani bin Ahmed Al-Zeyoudi, affirmed the keenness of the United Arab Emirates, based on the vision and directives of its wise leadership, to support the march of joint Gulf action in various priority economic files, and to raise the level of cooperation and coordination according to a number of mechanisms to enhance economic, commercial and investment integration Gulf in a sustainable way.
This came during his participation, as a representative of the United Arab Emirates, in the extraordinary meeting of the Trade Cooperation Committee of the Cooperation Council for the Arab States of the Gulf with the participation of trade ministers in the GCC countries and in the presence of Naif Al-Hajraf, Secretary-General of the Council, which was held via virtual platforms with the aim of discussing ways and mechanisms for implementing the decisions of the Sultan Qaboos Summit and Sheikh Sabah "That was held recently in Al-Ula, Saudi Arabia, and related to establishing mechanisms for joint action between the GCC countries during the next stage in three main axes, including the adoption of the amended consumer protection system, the adoption of the amended patent system, and continuing to support and encourage small and medium enterprises and institutions.
Al-Zeyoudi said: The last meeting of the leaders of the Gulf Cooperation Council countries at the Al-Ula summit in the Kingdom of Saudi Arabia witnessed the issuance of a set of decisions and recommendations aimed at strengthening Gulf cooperation and integration in many areas and sectors of priority for the GCC countries, especially the areas related to the consumer protection system and the new law in this regard. And the development of the Gulf intellectual property environment through amendments to the unified patent law, and the development of clear frameworks for cooperation in support of entrepreneurship at the Gulf level and encouraging the activities of emerging, small and medium-sized companies in the GCC countries.
He stressed that these important axes discussed by the committee would create new paths for partnership and economic integration among the GCC states and support their plans and strategies to transform towards diversified, sustainable economies based on knowledge, innovation and high productivity. The Council and support for joint Gulf action frameworks in implementing the summit decisions because of their positive impact on the economic scene, as well as the importance of joint action to enhance their benefit on Gulf business sectors.
In detail, and with regard to the amended Gulf system for consumer protection, the committee discussed setting up joint mechanisms to issue internal legislative tools to enforce the system and assigning a specialized committee to prepare its executive regulations. The committee also recommended forming legal and technical teams and committees for the amended Gulf patent law. Finally, the committee’s meeting dealt with ways to develop Entrepreneur initiatives and the knowledge economy for small and medium enterprises in the GCC countries, and diversification of opportunities for commercial and investment activities and projects that serve the growth and competitiveness of this sector.
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