BAHRAIN Chamber chairman Nabeel Kanoo affirmed that the current phase requires greater co-ordination between the public and private sectors across the GCC to address economic and regional developments, strengthen economic resilience and support sustainable growth.
He stated that the GCC private sector has a key role in sustaining trade and investment, diversifying growth, and developing joint partnerships that strengthen economic integration among GCC markets.
This came during the 69th meeting and 15th consultative meeting of the Federation of GCC Chambers, attended by chairmen and representatives of GCC chambers and federations.
Welcoming the attendees, Mr Kanoo said the meeting reflects the strong ties among GCC chambers and their shared commitment to advancing economic integration and strengthening the private sector’s role in development.
He highlighted the importance of facilitating intra-GCC trade, improving logistics and transport connectivity, and addressing procedures that may hinder the movement of goods and services. He also stressed the need to develop joint GCC value chains and enhance the competitiveness of private sector enterprises.
Mr Kanoo noted that the meetings discussed initiatives to strengthen industrial integration, particularly in the healthcare, medical, agricultural, and food sectors, while encouraging joint investment. He also highlighted food security as a strategic priority requiring greater cooperation in production, supply chains, and storage.
He stressed the importance of supporting small and medium-sized enterprises (SMEs) and expanding their access to flexible financing solutions to enable them to grow and expand across GCC markets.
Mr Kanoo affirmed that achieving tangible economic outcomes requires moving from coordination towards practical joint initiatives and projects. He also highlighted the role of GCC chambers and federations in identifying business challenges, proposing solutions, and translating meeting outcomes into initiatives that directly benefit the business community.
He echoed Bahrain Chamber’s commitment to working with the Federation of GCC Chambers and member chambers to strengthen the private sector’s role in advancing economic integration and sustainable development across the GCC.
The meeting brought together representatives of the UAE Chambers, Federation of Saudi Chambers, Oman Chamber of Commerce and Industry, Qatar Chamber, Kuwait Chamber of Commerce and Industry, and the Federation of GCC Chambers to discuss initiatives aimed at developing the business environment and strengthening co-operation among GCC business communities.
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