The Gulf Co-operation Council is on the cusp of sealing several landmark free trade agreements as the region accelerates its drive towards deeper economic, technological and security integration, GCC Secretary-General Jassim Al Budaiwi revealed last night.
Speaking during a high-profile dialogue session on the eve of the 46th GCC Summit in Bahrain, Mr Al Budaiwi said negotiations with Pakistan, New Zealand and South Korea have reached ‘final stages’, while talks with the United Kingdom are now ‘95 per cent complete’.
“We are very close to finalising a number of free trade agreements that will significantly expand the GCC’s global economic footprint,” he said.
“Only a few technical points remain before we move to the signing phase.”
He also confirmed the bloc is preparing to revive long-stalled free trade negotiations with the European Union, which have been frozen since 2008.
“The strategic dialogue relaunched in 2022 has opened a new chapter,” he said.
“The GCC is working on a unified position to resume this vital track. We are also working to bring the agreement with Canada signed in 2016 into implementation.”
The Secretary-General highlighted what he described as ‘unprecedented progress’ in GCC energy integration, particularly in cross-border electricity connectivity. He cited the successful Kuwait–Iraq electricity link as a model for expansion.
“This project demonstrated remarkable success and now opens the door for wider grid extensions into southern and western Iraq,” he said, adding that new plans will soon be announced to supply other Arab regions with competitively priced power.
Mr Al Budaiwi stressed that the GCC’s political cohesion has been the ‘foundation of its regional stability’ over four decades.
“The Gulf stands as one. Our political decisions are unified, and this unity has been central to mediation successes and the protection of our strategic interests,” he said.
“The social and economic bonds between our peoples today go far beyond traditional regional co-operation.”
The GCC is also moving swiftly to regulate emerging technologies, including artificial intelligence (AI), he noted.
The bloc has already adopted a 2021 AI reference framework, a 2029 framework for AI in development and climate sectors, and is now finalising a unified GCC-wide AI regulatory strategy to be approved this month.
“We are confronting technological challenges together – from risk management to research and development (R&D) and setting unified Gulf standards,” he said.
On defence, he confirmed that GCC defence ministers have agreed on five major steps to boost joint military capacity, including addressing capability gaps, raising readiness levels and enhancing joint operational power.
“Our armed forces achieved significant milestones in joint exercises this year,” he said.
“Defence co-ordination is now one of the pillars of regional security.”
He emphasised that the GCC’s foreign policy positions remain ‘clear and unified’, contributing to several successful international mediations and boosting the bloc’s global standing.
Looking ahead, Mr Al Budaiwi said the coming period will witness a new set of initiatives aimed at strengthening Gulf economic integration.
A comprehensive GCC economic agreement is now in its final drafting phase.
“We are on the threshold of a new era of economic convergence,” he said.
“Meeting the aspirations of Gulf citizens requires more joint action and a focus on major achievements that have reshaped our region over the past decade.”
mohammed@gdnmedia.bh
&uuid=(email))