MUSCAT: The Federation of GCC Chambers Council held Wednesday its 58th meeting in the Omani Capital, Muscat, with participation of a delegation from Kuwait Chamber of Commerce and Industry headed by the Chambers' General Director Mohammad Al-Saqr. In a statement, the Kuwait Chamber said the participating delegation included office member Osama Al-Nasf, board member Fahd Al-Dabbous, general director Rabah Al-Rabah, assistant general director Imad Al-Zaid and director of public relations Khaled Al-Manea.

The chamber said that prior to the meeting, the heads of the chambers met with the Secretary-General of the GCC Council Dr Nayef Al-Hajraf, where several issues related to the Gulf private sector were discussed; a happening that will strengthen ways of cooperation between them. One of the most important matters that was discussed was issuance of a unified guide for citizens of the GCC countries to invest in the GCC countries, which includes special conditions and procedures for imports and exports process between the GCC countries.

The also discussed role of the Gulf private sector in searching for alternative resources for basic products in light of the expected food crisis as a result of the Russian-Ukrainian military conflict, added the statement. The chamber indicated in its statement effects of inflation resulting from high oil prices and tense conditions globally and their repercussions on economic and commercial activity among the GCC countries and the need to adopt coordinated economic policies among the GCC countries.

Furthermore, they discussed necessity of concluding a free trade agreement between the GCC countries and India, especially considering current food crisis in the world, while the General Secretariat of the Federation of Gulf Chambers underlined importance of directing support to encourage the Gulf private sector to increase investment in agriculture and food industries. The participants in the meeting expressed their willingness to cooperate with the Gulf private sector and seek establishing the desired Gulf unity by 2025.

The council adopted the annual report, which included the economic harvest of the GCC countries by knowing the expected performance on the prospects of economic performance in the GCC countries during the period from 2020 to 2023, in addition to studies and economic reports that dealt with the expected future effects of Coronavirus pandemic on Gulf private sector.

The meeting dealt with strengthening the relationship of the General Secretariat of the Union with Gulf organizations, bodies, institutions and centers by holding economic activities, most importantly the 3rd session of the Jordanian Gulf Communication Forum. It is scheduled to be held from 27 to 28 September, in addition to the establishment of the Gulf Economic Forum in its 2nd session in the Emirate of Ras Al-Khaima will be held on November 2-3. The Council was also informed of the postponement of the first Swiss Gulf Economic Forum and Exhibition, scheduled to be held on June 28-29, until further notice. - KUNA