Muscat: Oman Chamber of Commerce and Industry (OCCI) participated in the 55th meeting of the Federation of the Gulf Cooperation Council (GCC) Chambers, held on Wednesday in Dubai.
The Omani side was chaired by Eng. Ridha bin Juma Al Saleh, Chairman of the Chamber’s Board of Directors.
The meeting was attended by Zaher Al Kaabi, Member of the Board of Directors and Head of the Chamber’s Branch in Al Buraimi Governorate, Abdullah Al Shafei, Member of the Board of Directors and Head of the Chamber’s Branch in North Al Batinah Governorate, Saif Al Badi, Member of the Board of Directors and Head of the Chamber’s Branch in Al Dhahirah Governorate, and Dr Al-Fadhl Al Hinai, CEO of the Chamber.
The meeting was chaired by His Excellency Samir Nass, President of the Federation, and was held in the presence of His Excellency Dr Nayef Al Hajraf, Secretary-General of the Cooperation Council for the Arab States of the Gulf, the heads of the Gulf Chambers of Commerce, members of their boards of directors, and the General Secretariat of the Federation.
The agenda included a special meeting of their Excellencies the heads of the member federations and chambers with His Excellency Dr Nayef Al Hajraf, during which he emphasised the beginning of the recovery from the economic effects of the COVID-19 pandemic, and the remarkable improvement in the growth of the global economy.
The Secretary-General noted the volume of intra-GCC trade amounted to more than $90 billion in 2019, and that the current pace of its growth does not live up to the aspirations of the leaders and people of the GCC states.
Dr Nayef Al Hajraf called for the intensification of all efforts towards achieving greater growth rates for intra-trade, especially since the GCC countries constitute a market of more than 58 million people. The total gross domestic product of about $1.590 trillion in 2019 reflects the great potential of this market.
His Excellency the Secretary-General detailed the extent of the Gulf Cooperation Council's interest in identifying the challenges and obstacles facing the Gulf private sector. To raise its contribution to the achievement and success of the joint Gulf action, he stressed on moves that can overcome these challenges and provide solutions.
Dr Nayef Al Hajraf then inaugurated the Gulf Economy magazine issued by the Federation of Gulf Chambers.
His Excellency Samir Nass explained that the meeting was held to review existing data and developments and with an understanding that the GCC countries will continue to work on implementing programmes to immunise the society against the COVID-19 pandemic, and to hasten economic recovery.
The President of the Federation indicated that these circumstances and data impose on the private sector double the responsibilities. It seeks to protect its facilities and activities from the repercussions of the pandemic and ensure business continuity on the one hand, and on the other, it doubles its efforts alongside the GCC country governments to protect the interests of their peoples.