GCC chief affirms the role of DCO in economic growth

The Secretary-General of the Gulf Cooperation Council (GCC), Jasem Al-Budaiwi, affirmed the important role of the Digital Cooperation Organization (DCO) in accelerating the growth of the digital economy. This came in a meeting between Al-Budaiwi and the DCO General Secretary, Deemah Al-Yahya, in Riyadh, the GCC Secretariat said in a statement. The DCO aims to enable digital prosperity and facilitate cooperation in response to the dynamic challenges of the digital era, which Al-Budaiwi praised. Al-Budaiwi’s remarks included the results of the roundtable going over the gap in digital talents among young adults, digital rights, patents, financial incentives, and the cooperation of the public and private sectors to develop the role of women and the digital economy in the communication field.

Customs agreement

In another development, the second meeting of the Arab Customs Cooperation Committee took place at the Arab League on Tuesday, presided over by Saudi Arabia, to continue discussing the executive mechanism of the agreement. Director of the League’s Economic Integration Department, Dr. Bahjat Abu Al-Nasser, said in his opening speech at the meeting that the agreement has been in effect since August 3rd, 2022, with eight Arab states joining it.

Abu Al-Nasser stressed the importance of Arab member states’ cooperation in executing this agreement, saying that the General Secretariat of the Arab League presented a draft mechanism to execute the agreement and presented it to the member states in the committee’s first meeting last October. He added that the Economic and Social Council issued a decision to form a technical committee of the member states to follow up on the implementation of the agreement.

The Arab Customs Cooperation Agreement, which was adopted in 1950, aims to facilitate trade and economic integration among Arab League member states. The agreement seeks to harmonize customs procedures, enhance cross-border trade facilitation, and promote mutual cooperation in combating customs offenses and illicit activities. Meanwhile, the League of Arab States confirmed that the Arab region has been considered a crossing point for international trade convoys throughout history due to its geographical location. However, the developments taking place in the region have led to a change in the landscape of transport management around the world. — KUNA