Riyadh, June 14, 2022, SPA -- The Financial and Economic Cooperation Committee at the Gulf Cooperation Council (GCC) for Arab States yesterday held its 116th meeting at the headquarters of GCC Secretariat General in Riyadh, under the chairmanship of Saudi Minister of Finance and head of the current session Mohammed bin Abdullah Al-Jadaan with the participation of GCC ministers of finance, GCC Secretary General Dr. Nayef Falah Al-Hajraf and senior officials and specialists. During the meeting, ministers reviewed the outcomes of all relevant committees that support achieving economic unity for this year, assessing achievements and anticipating future prospects to enhance the role of these committees and teams in consolidating cooperation aspects among GCC countries, including remaining steps to establish the customs federation according to a set timetable and the joint Gulf market, where ministers also discussed G20 initiatives in the financial course and their impact on GCC countries. Al-Jadaan stressed that the Kingdom of Saudi Arabia, throughout its presidency year and with the unlimited support of GCC countries, will continue to support the joint Gulf action and contribute to developing economic relations until reaching the aspirations of GCC leaders and citizens, in a bid to realize and implement decisions of the Supreme Council, activate the customs federation commission and grant it authorities necessary to implement its tasks according to the best practices that support completing all the requirements of the customs federation, praising the important role of the secretariat general in expanding cooperation aspects and matching the visions of GCC towards the future. The meeting of the Financial and Economic Committee is held periodically to discuss all topics related to the joint Gulf economic action and the latest developments and economic procedures that GCC countries have adopted to realize joint strategic interests on the long terms. --SPA 14:12 LOCAL TIME 11:12 GMT 0012 www.spa.gov.sa/w1746193