Doha: Secretary-General of the Gulf Cooperation Council Jasem Al-Budaiwi stated on Wednesday that expanding trade cooperation remains a top priority for the leaders of the GCC countries. This assertion was made during a meeting held in Doha between the GCC trade and industry ministers and Gulf entrepreneurs. According to Kuwait News Agency, Al-Budaiwi emphasized that the GCC leaders are committed to implementing comprehensive legislative reforms aimed at improving the business environment, which is crucial for achieving inter-GCC trade integration. He noted the formation of a subcommittee, affiliated with the GCC trade and industry ministers committee, dedicated to engaging with entrepreneurs across GCC member states to discuss necessary measures to support this sector. The Secretary-General also highlighted the GCC's efforts to organize an annual forum for GCC entrepreneurs to assess their initiatives. Additionally, the GCC is working on developing a platform that will provide entrepreneurs with critical d ata on market supply and demand, investment opportunities, and available financing institutions. Qatari Minister of Commerce and Industry Sheikh Mohammad bin Hamad remarked on the progress made since the inception of consultative meetings between GCC Ministers of Commerce and Industry and Gulf entrepreneurs in 2019. He noted that these meetings have successfully addressed several key issues, such as facilitating startups' entry into GCC markets and sharing data on available investment opportunities. Sheikh Mohammad further mentioned steps taken by the GCC to streamline export procedures, which have led to positive growth in this area. He advocated for the unification of GCC commercial laws and proposed the establishment of a regional center dedicated to improving the business environment. He also suggested creating a special platform for data sharing with entrepreneurs. Describing the meeting as an opportunity to examine the significant challenges facing the entrepreneurship sector and small and medium ent erprises in the GCC countries, the Qatari minister expressed optimism about reaching agreements to address these challenges and provide the necessary facilities to meet the aspirations of GCC entrepreneurs. The meeting concluded with the inauguration of the second Gulf Industrial Exhibition, during which several Gulf factories and business owners were honored.
