He stressed that it is an urgent priority to achieve the sustainable development goals

Bin Touq: UAE supports the transformation of Gulf economies towards new sectors

Abdullah bin Touq during his meeting with Jassim Mohammed Al-Budaiwi at the headquarters of the Ministry of Economy in Dubai. From the source

The Minister of Economy, Abdullah bin Touq Al-Marri, discussed during his meeting with the Secretary-General of the Cooperation Council for the Arab States of the Gulf, Jassim Mohammed Al-Budaiwi, yesterday, at the headquarters of the Ministry of Economy in Dubai, ways to enhance the efforts of the Gulf Cooperation Council countries at the economic and development levels, exchange experiences in priority sectors, and mechanisms for transforming Gulf economies towards new sectors.

Al Marri stressed that the UAE is keen to support the bonds of joint Gulf cooperation and promote the transformation of Gulf economies towards new sectors as an urgent priority to achieve sustainable development goals, in order to ensure sustainable prosperity and prosperity for the Gulf peoples.

Al Marri said: "We look forward to creating more effective paths to achieve Gulf economic integration, supporting new business models, including startups and family businesses, providing all the necessary ingredients for the growth of their activities, maximizing their contribution to supporting the GDP of the Gulf economies, and creating sustainable job opportunities."

For his part, Al-Budaiwi praised the great efforts made by the Ministry of Economy in supporting and strengthening the process of joint Gulf action to achieve more cooperation and integration among the GCC countries, in order to achieve the directives and visions of the leaders of the GCC countries.

Bin Touq, Secretary General of the Gulf Cooperation Council, was briefed on the most prominent developments in the economic environment of the UAE during the past period, in order to create an economic climate supportive of business growth and prosperity, and attract investments, in implementation of the forward-looking vision of the wise leadership in light of the fifty goals and the determinants of the UAE Centennial 2071, by allowing foreign ownership to reach 100%, issuing a system of legislation to protect intellectual property, and launching an ambitious strategy to attract talents and minds in all sectors to enhance the country's position as a permanent center. For creativity and innovation.

It is noteworthy that non-oil trade between the UAE and the GCC countries reached more than AED 281 billion during 2022, achieving a growth of 14% compared to 2021, and by 23% compared to 2019.