DIFC Calls for Deeper Integration of GCC States

DUBAI — A stirring call for deeper integration among GCC states and particularly between the UAE and Saudi Arabia, the two largest economies of the Gulf, was jointly issued on Tuesday by the Dubai International Financial Centre or DIFC and the Riyadh Chamber of Commerce and Industry 
or RCCI.

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By Staff Report

Published: Thu 7 May 2009, 12:11 AM

Last updated: Sun 5 Apr 2015, 9:44 PM

A consolidated approach between the nations of the Gulf will allow them to maximise emerging opportunities around the world and in the region, said a top official of the DIFC.

Nasser Al Shaali, CEO of DIFC Authority, spoke at a jointly-organised conference entitled ‘Rising Giants: Opportunities in KSA’ at the RCCI. The DIFC delegation was welcomed by Eng. Sa’ad bin Ibrahim bin Abdul Aziz Al Moajil, Vice-Chairman of the Board of the Riyadh Chamber of Commerce and Industry. Al Moajil pointed out that the GCC has enormous resources. “GCC economies are emerging as an economic and financial hub for the wider region and have achieved average real GDP growth of 6.9pc over 2004-2008.

“Saudi Arabia is the wealthiest economy in the GCC and plays a pivotal role in the wider region,” he said.

Staff Report

Published: Thu 7 May 2009, 12:11 AM

Last updated: Sun 5 Apr 2015, 9:44 PM

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