DOHA: The series of meetings addressed pressing issues from trade arbitration to digital commerce legislation and marked progress in free trade agreements with New Zealand, the United Kingdom, and China.
Oman engaged with Gulf Cooperation Council (GCC) ministers at the 67th Trade Cooperation Committee meeting and the 53rd Industrial Cooperation Committee session in Doha. The event, which also included the eighth Ministerial Committee for Standardization Affairs, saw GCC ministers and industry leaders convene to review regulatory updates and collaborative initiatives vital to bolstering intra-Gulf trade and industrial integration. Key topics included advancements in digital commerce frameworks and developments in commercial arbitration mechanisms across the GCC.
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A consultative meeting with the UK’s Minister of Trade and Business underscored the goal to finalize a free trade agreement before year’s end, a milestone anticipated to drive significant economic growth for both regions. In a similar stride, GCC ministers announced a finalized free trade deal with New Zealand and revealed that a trade agreement with China is also nearing completion, as officials recommended accepting China’s proposal.
In addition to trade and legal frameworks, the ministers focused on defining unified standards for Gulf-manufactured products and implementing new guidelines for industrial development across member states. A unified definition of “Gulf product” is set to enhance the protection and marketability of locally manufactured goods, strengthening Gulf-wide industrial growth.
The gathering also spotlighted the second Gulf Industrial Exhibition, where ministers honored Omani inventors Sulaiman bin Khamis Al-Khawaldi, Shaima bint Dhaher Al-Saadiya, and Badr bin Salim Al-Maqbali for innovations in fishing vessel tracking and remote control technologies. With 30 factories and 12 inventors showcasing advancements across industries like chemical production, medical equipment, and food manufacturing, the exhibition aimed to drive industrial collaboration and boost Gulf exports.
