"They will also discuss the proposed establishment of a multi-party credit fund to deal with environmental problems in the Gulf, in cooperation with Iran and Iraq"
5/8/2010
Al-Shimali in Riyadh for GCC ministerial meeting
RIYADH, May 8 (KUNA) -- Minister of Finance Mustafa Al-Shimali arrived here Saturday to partake in the 84th Meeting of the GCC Finance and Economy Committee, hosted by the GCC Secretariat.
Al-Shimali will be heading the top level one-day GCC meeting which will before the Gulf States leaders' consultative meeting to be held in Riyadh Tuesday.
The agenda of today's meeting will include a discussion of the outcomes of the meeting of GCC finance and economy undersecretaries, which came in preparation for the ministerial meeting.
Qatar's vision for activating the role of the GCC will be discussed, as well as requirements for the customs union and joint investment, health and educational projects, and the distribution of collected customs tariffs.
Moreover, the ministers will follow up economic decisions made by the GCC Supreme Council, where executive orders have not been issued by some member states to implement them. They will also look into the GCC Supreme Council's decision over visions of the consultative council for tackling the global economic crisis and its impact on the economies of the GCC member states.
Also, the ministers will be looking into a Bahraini proposal for establishing a fund that supports financial and economic stability in the GCC, as well as recent developments in negotiations with other GCC blocs.
They will also discuss the proposed establishment of a multi-party credit fund to deal with environmental problems in the Gulf, in cooperation with Iran and Iraq.
Further, the ministers are expected to look into a Kuwaiti proposal for exempting imported cement and steel from customs tariffs, given the recent hike in the prices of these construction materials.
(end) ay.gta KUNA 081059 May 10NNNN
