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  HE GCCSG:Industrial Sector Enjoys Significant Attention from GCC Leaders to Achieve Integration among GCC States in Industrial Field,with the Goal of Diversifying National Economy & Increasing its Contribution to GDP while Accommodating National Workforce

General Secretariat - Doha

His Excellency Mr Jasem Mohamed Albudaiwi, Secretary General of the Gulf Cooperation Council (GCC),
stated that the industrial sector receives significant attention from the leaders of the GCC countries, adding that this attention aims to achieve integration among the GCC countries in the industrial field, with the goal of diversifying the national economy and increasing its contribution to the Gross Domestic Product (GDP) while accommodating the national workforce.

This statement was made by His Excellency during the 52nd meeting of the GCC Industrial Cooperation Committee held on Wednesday, May 1, 2024, in Doha, Qatar. The meeting was chaired by His Excellency Shaikh Mohammed bin Hamad bin Qassim Al Thani, Minister of Commerce and Industry of Qatar and the current session's president, in the presence of the esteemed ministers of industry from the GCC countries.

At the beginning of the meeting, His Excellency the Secretary General of the GCC expressed his sincere appreciation and gratitude to His Highness Shaikh Tamim bin Hamad Al Thani, the Amir of the State of Qatar and the President of the Supreme Council for the current session, for Qatar's dedicated efforts to enhance the blessed march of the GCC and for the support and attention it receives from His Highness.

During his speech, he underlined that the GCC countries are working on developing and stimulating the industrial sector through various initiatives and programmes aimed at developing the national industry and logistical services, as well as enhancing non-oil exports to achieve sustainable development and economic diversification. 

"The industrial sector significantly contributes to the GDP of the GCC countries, exceeding 12%. In 2022, this sector achieved a growth rate of over 30% compared to 2021, reaching a value of 220 billion dollars. Moreover, this sector employs more than 2.2 million workers," His Excellency said. 

He also mentioned that the agenda of today's meeting encompassed several topics, including a report on the developments in establishing a unified definition for the national (GCC) product and its specific standards, managing the implementation plan for the unified industrial development strategy, establishing the GCC Centre for the Fourth Industrial Revolution, the challenges facing the completion of the requirements for the GCC Customs Union, unifying the support provided to the industrial sector in the GCC countries, and requesting approval to increase the customs duty on imports of reinforcing iron (7214) and iron coils (7213). 

Additionally, discussions were held regarding the preparation of lists of goods subject to collective protection, and approval was sought for participating in the China-GCC Industrial and Investment Cooperation Forum. His Excellency emphasised the great importance of reaching a unified definition for the national product, as reaching an agreement on this matter would significantly contribute to enhancing trade exchange among the GCC countries and facilitating the movement of goods.

Furthermore, he highlighted that the Executive Administration of the GCC Customs Union participated for the first time in the meetings of the Industrial Cooperation Committee.