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A prominent Gulf business leader stressed the need for urgent steps to overcome hurdles in activating the Gulf Common Market and work out a joint vision in countering economic challenges.
Making an appeal to the Gulf leaders a few hours prior to their 10th Consultative Summit in Dammam yesterday, Abdu Rahman Al Rashid, vice-president of the Gulf Council of Chambers of Commerce and Industry, urged them to issue clear-cut instructions to the concerned authorities in the GCC states to fulfil all the requirements needed for realising the common market.
"Though the common market came in to a reality by the beginning of this year, it still lacks several requirements. The concerned authorities should work hand in hand with the private sector to fulfil them," Al Rashid, who is also president of the Council of Saudi Chambers of Commerce and Industry and the Eastern Province Chamber, said in a statement sent to the press.
The decision to launch the common market was taken by the GCC Summit, which was held in Doha last December. The launch of the market was termed as an important step in GCC economic integration.
The market offers equal opportunities for all GCC citizens. However, most of the objectives of the Common Market are yet to be realised, says Al Rashid.
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