GCC summit stresses importance of following up on achievement of region's economic visions

42nd GCC Summit

The closing statement of the 42nd Gulf Cooperation Council (GCC) summit stressed the importance of following up on the achievement of the region's economic visions. 

This aims to achieve economic diversification, maximize the benefits of economic potentials and opportunities to double joint investments and develop integration of road, railway, and telecommunications networks in the region. 

In addition, the statement highlighted the importance of supporting and strengthening the national industries, accelerating their growth, providing them with the necessary protection, and raising their competitiveness. It also stressed the importance of helping such industries secure a leading position to compete globally, as well as removing all obstacles and difficulties facing the implementation of joint economic decisions in the region. 

The summit stressed the need for collective action to address all threats, as well as the importance of completing the implementation of King Salman's vision. 

It pointed to the importance of completing the elements of economic unity as well as joint defense and security systems, to preserve the interests of the GCC states. This also aims to enhance the countries' regional and international role through strengthening the international political partnerships. 

Finally, the statement confirmed the importance of combating COVID-19 pandemic and its new variants, as well as supporting the collective action to overcome the epidemics in the future.