The UAE Ministry of Finance participated in the 125th meeting of the GCC Financial and Economic Cooperation Committee, where member states approved the GCC Common Market Action Plan 2026–2028 aimed at accelerating Gulf economic integration, customs facilitation, and regional trade cooperation.
The UAE delegation was led by His Excellency Mohamed bin Hadi Al Hussaini and included senior officials and specialists from the Ministry of Finance. The meeting addressed key strategic priorities related to GCC financial and economic collaboration, including developments in customs union frameworks, tax administration coordination, free trade negotiations, and Gulf Common Market initiatives.
GCC countries advance unified economic strategy
During the meeting, officials reviewed the outcomes of several committees overseeing central banks, customs policies, and tax systems across the GCC region. Participants also discussed mechanisms to combat harmful international trade practices and strengthen local industries through updated customs policies and regulatory frameworks.
His Excellency Mohamed bin Hadi Al Hussaini stated that the meeting reflected the GCC countries’ shared commitment to building a resilient and integrated economic system capable of adapting to evolving global economic conditions.
He highlighted that discussions focused heavily on the GCC Common Market Action Plan 2026–2028, customs facilitation regulations, and initiatives supporting Gulf economic unity and sustainable development.
New GCC Common Market Action Plan approved
One of the major outcomes of the meeting was the official approval of the GCC Common Market Committee’s Action Plan for 2026–2028. The framework is designed to enhance economic integration among Gulf countries while improving trade efficiency and cross-border cooperation.
The approved plan includes:
- Enhanced customs facilitation regulations
- Updated frameworks to address harmful trade practices
- Measures to protect strategic national industries
- Greater alignment on Gulf economic development goals
- Stronger cooperation in international economic forums
Officials also reviewed ongoing free trade negotiations between GCC countries and international economic blocs, emphasizing the region’s growing influence in global trade discussions.
UAE reaffirms support for Gulf economic integration
The UAE Ministry of Finance reaffirmed its commitment to supporting GCC-wide economic integration and strengthening the UAE’s role within the GCC Common Market.
The ministry noted that Gulf economic unity initiatives are increasingly being driven by technical studies, international best practices, and coordinated policy frameworks that aim to improve long-term regional competitiveness and sustainable growth.
The discussions also highlighted the importance of deeper financial cooperation between GCC member states to support regional resilience, economic diversification, and future-ready economic systems.
GCC economic cooperation gains momentum
The approval of the GCC Common Market Action Plan 2026–2028 comes as Gulf countries continue accelerating efforts to strengthen intra-regional trade, improve customs coordination, and expand free trade partnerships globally.
Economic cooperation across the GCC has become increasingly important amid shifting global trade dynamics, rising investment opportunities, and the region’s broader push toward diversification beyond oil revenues.
The meeting further reinforced the GCC’s long-term vision of creating a more unified economic bloc capable of enhancing regional prosperity, supporting national industries, and increasing the competitiveness of Gulf economies on the global stage.
