Arabian Gulf leaders to launch Monetary Union in their Dec. 14-15 summit - Attiyah
GCC summit 12/13/2009 11:22:00 PM
KUWAIT, Dec 13 (KUNA) -- Arab Gulf leaders will be endorsing the Monetary Union during their two-day summit on Monday, a step that will pave way for the creation of the GCC Central Bank which will launch the common currency, GCC Secretary General Abdulrahman Al-Attiyah said Sunday.
The leaders of the six GCC countries will endrose the "establishment of the Monetary Union which will be responsible for all details leading to the launch of the common currency at the appropriate time," Al-Attiyah told KUNA after a joint meeting of the Gulf foreign and finance ministers.
The Monetary Union treaty was already been ratified by Kuwait, Saudi Arabia, Bahrain and Qatar. The GCC also includes Oman and the United Arab Emirates (UAE).
"Both of Oman and UAE are poineers in joint Gulf action and always took the lead in implementing resolutions of Gulf summits ... so they are always at the center of the common Gulf action," said Al-Attiyah.
The GCC chief said the Gulf leaders would also officially launch the electricity linkage project, which he considered as a "distinguished historic event" in the march of the GCC and reflected solid cooperation of the six member states.
Al-Attiyah, talking about the joint meeting, said the ministers discussed all topics listed on the agenda of the summit, as well as the draft final communique to be approved by the GCC leaders.
The ministers also discussed a host of political, security, economic, environmental and cultural issues of mutual interest, in addition to military coordination and cooperation, as well as dialogue with other friendly nations and blocs.
GCC summit 12/13/2009 11:22:00 PM
KUWAIT, Dec 13 (KUNA) -- Arab Gulf leaders will be endorsing the Monetary Union during their two-day summit on Monday, a step that will pave way for the creation of the GCC Central Bank which will launch the common currency, GCC Secretary General Abdulrahman Al-Attiyah said Sunday.
The leaders of the six GCC countries will endrose the "establishment of the Monetary Union which will be responsible for all details leading to the launch of the common currency at the appropriate time," Al-Attiyah told KUNA after a joint meeting of the Gulf foreign and finance ministers.
The Monetary Union treaty was already been ratified by Kuwait, Saudi Arabia, Bahrain and Qatar. The GCC also includes Oman and the United Arab Emirates (UAE).
"Both of Oman and UAE are poineers in joint Gulf action and always took the lead in implementing resolutions of Gulf summits ... so they are always at the center of the common Gulf action," said Al-Attiyah.
The GCC chief said the Gulf leaders would also officially launch the electricity linkage project, which he considered as a "distinguished historic event" in the march of the GCC and reflected solid cooperation of the six member states.
Al-Attiyah, talking about the joint meeting, said the ministers discussed all topics listed on the agenda of the summit, as well as the draft final communique to be approved by the GCC leaders.
The ministers also discussed a host of political, security, economic, environmental and cultural issues of mutual interest, in addition to military coordination and cooperation, as well as dialogue with other friendly nations and blocs.