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Naqi calls for facing challenges hindering economic citizenship among GCC countries

Secretary-General of the Federation of GCC Chambers Abdul-Rahim Hassan Naqi has called for facing the challenges that hinder the achievement of economic citizenship among GCC countries to move from the stage of cooperation to the Union phase.

During his participation at the Second Sharjah gathering recently held at Sharjah's Chamber of Commerce & Industry, he spoke on the most important challenges, future trends, the importance of acceleration by the GCC countries in moving to the stage of union, the need to speed up the steps of economic integration and application of all laws and regulations related to economic citizenship.

The Secretary-General outlined that the number of joint Gulf projects reached about 1000 projects with a total capital of $ 5.2 billion in 2009. The number of Gulf joint stock companies that allow the Gulf citizens to trade in their shares amounted 646 companies out of about 1000 companies. The number of Gulf banks’ branches in GCC countries did not exceed 16 branches and the bilateral trade did not exceed 10% of the total GCC trade. The number of licenses granted for practicing economic activities amounted to 29 thousand licenses.

Naqi stressed that the previous indicators prove one fact which is in light of the mega trade and investment potentials in GCC countries, the unity and liberation of markets would contribute to raising these figures to more advanced levels.
Source: Federation of GCC Chambers’ Website

Islamic Chamber of Commerce and Industry - الغرفة الأسلامية للتجارة و الصناعة
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