The Significance Of Gulf Cooperation Council Summit
King Salman of Saudi Arabia invited Gulf leaders to participate in the 41st Summit of the Gulf Cooperation Council (GCC) in AlUla. The GCC leaders’ meeting aims to improve integration as the country recovers from the coronavirus pandemic. The Supreme Council of the GCC is the highest authority of the bloc and consists of the heads of Member States and meets regularly for a regular session.
The 41st session marks a new stage in the march of the GCC to establish new horizons for the citizens of the Gulf and motivate young people to lead the economy and development of the country in the long term, to build an empowered community that is proud of its history and its accomplishments and looks forward to the future and its aspirations. With a GDP equal to $1.6 trillion, GCC countries constitute one of the largest economic blocs.
Because of the vision and experience of the leaders of the Member States, the GCC has accomplished many milestones and integrative projects over the past four decades. The Gulf common market, the interconnective power grid, the customs union, the free flow of capital and many other acquisitions enjoyed by GCC people are among the main accomplishments, setting up the next stage of the bloc’s journey to create a bright future.
On Dec. 24, GCC transport ministers met and approved the formation of the Gulf Railway Authority, a groundbreaking development project that will increase intra-GCC trade opportunities, estimated at about $95 billion in 2018. Due to the wise vision of the leaders of the GCC nations, the GCC is slowly heading toward five decades of cooperation.
Given the extraordinary circumstances the world faces in fighting the coronavirus pandemic, this year’s summit, held in the historic city of AlUla, affirms the keenness of the representatives of the GCC states to maintain the bloc as a cohesive structure capable of overcoming difficulties and obstacles and enhancing its complementary march in all regions.
All Member States’ leaders emphasize the importance of improving all fields of Gulf cooperation and integration and advancing the economic archive by strengthening and promoting joint action to contribute to the restoration of economic recovery and growth and the return to normal life in order to achieve sustainable development goals after the pandemic.
The outcomes of the summit are believed to advance the march of joint Gulf action to strengthen the security and stability of the ‘indivisible’ Member States and to satisfy the desires and expectations of the people of the GCC for greater coherence, cooperation and inclusion.
Saudi Arabia’s diplomacy, with its regional and international stature and its role in strengthening the position of the bloc, is the backbone and main pillar of the GCC structure, pushing this march to the desired horizons.