GCC Moves Closer to Gulf Economic Citizenship
Doha meeting focuses on advancing Gulf national product standards to foster regional economic integration
GCC Nears Consensus on Gulf Economic Citizenship with Unified Product Definition
The Gulf Cooperation Council (GCC) is close to reaching consensus on a proposed unified definition of Gulf national products, which should go a long way towards achieving Gulf ‘economic citizenship’ and advancing the region’s industry.
This was the focus of the fifth extraordinary meeting of the Gulf countries’ industries ministries held in Doha on Wednesday.
Mohammed bin Hassan Al-Malki, Deputy Secretary of the Ministry of Commerce and Industry of Qatar, emphasized the importance of strengthening the mechanism for applying the criteria of this definition as a key step towards achieving ‘GCC economic citizenship’.
“It will enhance cooperation among GCC countries and help them achieve common goals and ambitions, thereby contributing to the progress of various GCC economic sectors, especially industry,” Khalid bin Ali Al-Sunaidi said in the presence. Assistant Secretary-General for Economic and Development Affairs at the GCC Secretariat.
He highlighted that reaching a consensus on the criteria for defining Gulf national production and implementing its mechanisms will open up new opportunities to support joint Gulf initiatives.
This is in line with the actions of the GCC countries to strengthen the economic and industrial structures of the Gulf aimed at economic integration and sustainable development.
During the meeting, they discussed the report on the application of the definition of Gulf National Product Standards and adopted recommendations for achieving common goals.
The proposals put forward by the GCC countries include defining localization percentages and choosing appropriate incentives to achieve balanced competitiveness of Gulf national products and supporting the private sector and reviewing the progress of member states in this regard.
Article (3) of the Economic Agreement 2001 contains a very important provision relating to economic nationality. This Article provides for direct implementation of the concept of full equal treatment of all GCC nationals by GCC nationals resident in any Member State without distinction or discrimination in all economic sectors; According to the GCC Secretary General’s website, this includes both natural and legal citizens.
