Davos, January 25, 2025 – Jassim Mohammed Al-Budaiwi, Secretary-General of the Gulf Cooperation Council (GCC), delivered a significant address today at the World Economic Forum (WEF) in Davos, emphasizing the pivotal role of GCC countries as stable and reliable energy suppliers in the global market. Speaking at a dialogue session titled "Economic Diversification and Its Impact on Sustainability: The Role of the GCC in Global Economic Growth," Al-Budaiwi highlighted the remarkable resilience of the GCC nations in the face of global challenges.
The session, which took place on the sidelines of the 55th annual WEF meeting, brought together a distinguished group of GCC ministers of economy and finance, alongside senior economic officials, industry experts, and business leaders from various countries. Al-Budaiwi took the opportunity to speak about the ongoing efforts of the GCC to drive forward economic diversification, a key element in ensuring long-term sustainability and stability in the region.
In his remarks, Al-Budaiwi pointed out that despite facing various geopolitical and economic challenges, the GCC remains steadfast in its commitment to peace, the respect for international law, and its unwavering pursuit of sustainable development. This, he noted, is critical not only for the prosperity of the region but also for contributing to the stability of the global economy.
He also reflected on the establishment and continued growth of the GCC, tracing its evolution and highlighting the significant economic milestones it has achieved. Al-Budaiwi reaffirmed the region's commitment to economic integration, citing the Gulf Economic Agreement, which outlines the mechanisms for achieving full integration among member states. This continued cooperation, he said, is crucial for enhancing the collective economic strength of the GCC, reinforcing its role as a cornerstone of global economic growth.
Al-Budaiwi concluded his address by stressing that the GCC countries, with their strong foundations in energy, trade, and financial sectors, are well-positioned to continue contributing to global economic stability and sustainable development for generations to come. His remarks resonated with the broader themes of the WEF, which this year focused on addressing challenges and identifying pathways for future global economic growth and sustainability.