Davos: Secretary-General of the Gulf Cooperation Council (GCC) Jasem Albudaiwi held a meeting with Financial Secretary of Hong Kong Paul Chan Mo-po. This meeting took place in Davos, Switzerland, on the sidelines of the 56th World Economic Forum (WEF) Annual Meeting.
According to Saudi Press Agency, the discussions focused on enhancing economic and commercial cooperation between the GCC member states and Hong Kong. Both parties deliberated on strategies to facilitate mutual investment flows, aiming to strengthen economic ties.
The leaders highlighted the strategic importance of economic relations between the GCC and China, noting that the trade volume between these regions has reached approximately $300 billion, constituting 20% of the GCC's total trade. They also reiterated their commitment to advancing the negotiations for a Free Trade Agreement (FTA), emphasizing the potential benefits such an agreement could bring to both sides.