Riyadh, May 1, 2026, SPA -- Gulf Cooperation Council (GCC) Secretary-General Jasem Albudaiwi underlined that the private sector in the GCC countries plays a vital role in achieving national objectives and advancing joint Gulf action. He stressed that the 14th Consultative Meeting with the heads of GCC federations and chambers of commerce aims to support and empower this sector to fulfill its active role in achieving economic integration among the GCC countries.

This statement was made during the 14th Consultative Meeting among the ministers of commerce and the heads of federations and chambers of commerce in the GCC, held yesterday, via video conference.

He pointed out that this periodic consultative meeting serves as a strategic dialogue platform that brings together policymakers and decision-makers with representatives of the private sector. 'It further represents the highest level of communication among government officials and the private sector, to enhance cooperation, stimulate economic growth, and address the regional and international economic challenges facing the Gulf private sector,' he stated.

He added that the achievements in the growth of intra-regional trade serve as the clearest evidence of overcoming many challenges. 'The intra-GCC trade volume reached approximately $146 billion in 2024, with an annual growth rate of 9.8%, confirming the growing strength and expanding scope of Gulf trade exchange,' he further added.