Manama: Industry and Commerce Minister Abdulla bin Adel Fakhro chaired the 14th consultative meeting involving GCC trade and industry ministers and the heads of Gulf chambers of commerce. The meeting, held remotely, was part of Bahrain's presidency of the 46th session of the Gulf Cooperation Council (GCC).
According to Bahrain News Agency, Minister Fakhro highlighted the meeting's significance in light of evolving regional and international developments, alongside increasing economic challenges. He stressed the necessity for unified efforts across trade and industry sectors, emphasizing supply chain sustainability and the protection of the GCC countries' economic interests. The minister condemned Iranian attacks on regional security, labeling them a direct threat to safety, trade route security, and supply chain stability both regionally and internationally.
Minister Fakhro underscored the shared responsibility of safeguarding regional security and economic stability, calling for a united Gulf stance and close cooperation between governments and the private sector. This collaboration aims to maintain the continuous flow of goods and services, protect commercial and industrial interests, and enhance preparedness to tackle ongoing challenges and developments.
He further stressed the need for stronger Gulf integration in trade, industry, and investment, advocating for genuine economic integration through unified visions and strategic partnerships. In response to rapid challenges and changes, moving beyond mere coordination is essential.
The meeting addressed various agenda items, including truck transit procedures, container-related issues, strategic goods storage, and the costs associated with shipping, transport, and marine insurance for trucks.