Unified GCC currency 'need of the hour'
12/Dec/2009
Trade Arabia
GCC countries must hasten plans to create a unified currency or risk significant damage to their economies in the long term, a Kuwaiti minister said.
Kuwaiti Foreign Minister and Deputy Premier Shaikh Dr Mohammad Al Sabah Al Salem Al Sabah called for the next Gulf Summit in Kuwait to urgently concentrate on the creation of a unified market, claiming that the region needed to form an economic climate that allowed GCC countries to approach external economic shocks without fear of ruin.
Shaikh Mohammad was giving his keynote address at the opening of a major security summit, currently being held at the Ritz-Carlton Bahrain Hotel and Spa in Manama on Friday night.
The sixth annual Manama Dialogue has caused an influx of some of the globes most important military chiefs and political leaders as regional and world security is placed firmly under the magnifying glass.
Shaikh Mohammad explained that GCC countries were facing short, medium and long-term challenges to security and prosperity in the Gulf region, and it was pertinent that many of the regions policy-makers will be in attendance over the next three days.
He said that just looking at a map of the region highlighted a number of security and political challenges which GCC nations would have to address, including the wars in Afghanistan and Iraq, tensions between Iran and the international community, the atrocities in Palestine and the crisis in Yemen.
“The responsibility of Gulf countries has increased significantly in recent years and we now have a responsibility to protect and guarantee the stability of the area,” he said.
For more on this:
http://www.tradearabia.com/news/ECO_171679.html
12/Dec/2009
Trade Arabia
GCC countries must hasten plans to create a unified currency or risk significant damage to their economies in the long term, a Kuwaiti minister said.
Kuwaiti Foreign Minister and Deputy Premier Shaikh Dr Mohammad Al Sabah Al Salem Al Sabah called for the next Gulf Summit in Kuwait to urgently concentrate on the creation of a unified market, claiming that the region needed to form an economic climate that allowed GCC countries to approach external economic shocks without fear of ruin.
Shaikh Mohammad was giving his keynote address at the opening of a major security summit, currently being held at the Ritz-Carlton Bahrain Hotel and Spa in Manama on Friday night.
The sixth annual Manama Dialogue has caused an influx of some of the globes most important military chiefs and political leaders as regional and world security is placed firmly under the magnifying glass.
Shaikh Mohammad explained that GCC countries were facing short, medium and long-term challenges to security and prosperity in the Gulf region, and it was pertinent that many of the regions policy-makers will be in attendance over the next three days.
He said that just looking at a map of the region highlighted a number of security and political challenges which GCC nations would have to address, including the wars in Afghanistan and Iraq, tensions between Iran and the international community, the atrocities in Palestine and the crisis in Yemen.
“The responsibility of Gulf countries has increased significantly in recent years and we now have a responsibility to protect and guarantee the stability of the area,” he said.
For more on this:
http://www.tradearabia.com/news/ECO_171679.html