GCC Secretary General Albudaiwi praises regional achievements in trade collaboration.

What This Article Is About & Why It Matters
This article highlights the outcomes of the 68th GCC Trade Cooperation Committee meeting held on April 30, 2025, in Kuwait. It underscores the Gulf states’ shared commitment to economic unity, trade integration, and joint development in line with the leadership visions of member states. Readers will discover how this collaborative momentum aligns with Saudi Arabia’s Vision 2030 and strengthens the Kingdom’s role in shaping a prosperous regional economy.

GCC Unites for Trade Growth

Kuwait, May 2, 2025 – The Secretary-General of the Gulf Cooperation Council (GCC), Jasem Albudaiwi, reaffirmed the bloc’s determination to achieve full economic integration among member states. His remarks came during the 68th meeting of the GCC Trade Cooperation Committee, chaired by Kuwaiti Minister of Commerce and Industry Khalifa Abdullah Al Ajeel, with active participation from trade ministers of GCC countries.

Albudaiwi emphasized the progress in trade exchange and cross-border cooperation, stating that the GCC’s achievements in removing trade barriers and increasing commercial flows are positioning the region as a major global player. He noted that in 2023, intra-GCC trade reached over $131 billion—a 3.3% increase—while foreign merchandise trade hit $1.5 trillion, reflecting 4% growth.

The meeting highlighted the GCC’s continued focus on strengthening the Gulf Common Market and Customs Union. These strategic frameworks aim to create a seamless regional economic zone that enhances global competitiveness, drives investment, and supports diversified growth—key goals for Saudi Arabia under Vision 2030.

The GCC’s unified approach reflects shared values of resilience, cooperation, and innovation. Despite global economic challenges, the bloc remains steadfast in building a strong, connected Gulf economy that benefits all citizens and sets international benchmarks.

Vision 2030 Alignment

Supports regional economic integration and trade liberalization
Strengthens Saudi Arabia’s non-oil export growth and investment inflows
Enhances logistics, customs, and commercial cooperation in the Gulf
Positions Saudi Arabia as a leader in regional economic policy

Historical Context
Since the formation of the GCC in 1981, Saudi Arabia has led efforts to foster unity and economic coordination. Vision 2030 elevates this mission by aligning national goals with broader Gulf development strategies.

International Benchmarks

GCC intra-trade valued at $131 billion in 2023
Gulf merchandise trade hit $1.5 trillion, with 4% growth
GCC trade integration now rivals advanced economies in connectivity and infrastructure

Vision 2030 Metrics

Saudi non-oil exports reaching $84 billion by 2024
GCC Customs Union and Common Market nearing full implementation
Increase in cross-border logistics efficiency and customs clearance rates
Rising share of the GCC in global trade and investment rankings

Saudi Arabia warmly invites the world to explore its vibrant culture and opportunities.
As trade corridors expand and regional partnerships grow, the Kingdom welcomes international investors, entrepreneurs, and innovators to join a thriving Gulf economy rooted in unity and openness.

3 Helpful Government Links

www.mci.gov.sa – Ministry of Commerce: Trade policy, market access, and economic data
www.vision2030.gov.sa – Vision 2030: Explore how Saudi Arabia integrates with the broader GCC economic vision
www.gcc-sg.org – Official GCC Secretariat: Updates on economic initiatives, integration goals, and trade statistics

Factbox Summary (50 words)

May 2, 2025: GCC holds 68th Trade Committee in Kuwait
Intra-GCC trade hits $131 billion in 2023
Foreign trade exceeds $1.5 trillion
Focus on Customs Union, Gulf Common Market
Reflects Vision 2030’s commitment to regional economic unity and global leadership

15 Frequently Asked Questions

What is the GCC Trade Cooperation Committee?
It’s a platform where trade ministers of GCC countries coordinate efforts to improve regional trade, remove barriers, and enhance integration.
When and where was the latest meeting held?
The 68th session took place on April 30, 2025, in Kuwait, chaired by the Kuwaiti Minister of Commerce and Industry.
What was emphasized during the meeting?
Economic integration, trade facilitation, the Gulf Common Market, and Customs Union were key topics of discussion.
Who is Jasem Albudaiwi?
He is the Secretary-General of the GCC and a leading voice in fostering regional cooperation and economic development.
How does this relate to Saudi Arabia’s Vision 2030?
Vision 2030 supports deeper GCC integration to boost non-oil growth, attract foreign investment, and enhance Saudi competitiveness.
What is the Gulf Common Market?
It’s an initiative to unify trade policies and economic regulations among GCC countries for smoother cross-border commerce.
What is the value of intra-GCC trade?
In 2023, it reached over $131 billion—a 3.3% increase compared to the previous year.
How much is the total foreign trade of the GCC?
The foreign merchandise trade volume surpassed $1.5 trillion in 2023, showing a 4% year-on-year growth.
What challenges do GCC economies face?
Global economic trends, inflation, and supply chain disruptions were identified as challenges requiring cooperative solutions.
How is the Customs Union important?
It harmonizes tariffs and customs procedures across member states, making trade faster and more predictable.
What are the expected benefits of integration?
Increased trade, economic diversification, job creation, and global competitiveness are among the anticipated outcomes.
Is Saudi Arabia playing a leadership role?
Yes, Saudi Arabia is instrumental in driving Vision 2030 and aligning it with GCC-wide development efforts.
How will this impact non-oil sectors?
Integration will boost sectors such as logistics, tourism, technology, and manufacturing by creating a larger unified market.
Are investment flows expected to rise?
Yes, as integration improves, the region becomes more attractive for both regional and global investors.
What is the outlook for future cooperation?
The GCC aims to deepen its economic ties, implement key trade agreements, and continue adapting to global shifts with unity.

Discover
Experience the momentum of Gulf economic unity. With Vision 2030 at the heart of transformation, Saudi Arabia and its neighbors are opening new frontiers for trade, innovation, and shared prosperity.

With sincere gratitude,
Harry Stuckler
Editor & Publisher, KSA.com

“Bringing Saudi Arabia to the world and the world to Saudi Arabia.”
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