Muscat, October 05, 2023, In a significant diplomatic event, Eng. Suhail bin Mohammed Abanmi, the Governor of the Zakat, Tax and Customs Authority (ZATCA), led the Saudi Arabian delegation to the 120th session of the Gulf Cooperation Council (GCC) Financial and Economic Cooperation Committee. This important meeting unfolded today in the picturesque city of Muscat, Oman.
The distinguished Omani Minister of Finance, Sultan Al-Habsi, had the honor of presiding over this pivotal gathering, which saw the participation of finance ministers from GCC member states and the esteemed GCC Secretary General, Jassem Al-Budaiwi.
The meeting served as a platform for in-depth discussions on a wide range of topics aimed at fortifying financial and economic cooperation among the GCC nations. Participants meticulously examined the recommendations put forth by the Undersecretaries' Committee, thoroughly scrutinizing the latest developments meticulously tracked by the General Secretariat.
A particular focus was directed towards the findings of the Customs Union Authority. Deliberations centered on equipping it with the necessary tools and strategies to operate efficiently, fulfilling its duties by implementing best practices in accordance with the prerequisites of the Customs Union.
Eng. Abanmi, in his address to the committee, expressed heartfelt gratitude to Oman for its dedicated efforts in advancing cooperation among GCC nations throughout its presidency year. He underscored the imperative need for intensified endeavors to realize the collective aspirations and visions of GCC leaders.
Furthermore, Eng. Abanmi underscored the paramount significance of supporting GCC countries in their commitment to implementing the common framework initiative, a laudable initiative launched by the Kingdom during its presidency of the Group of Twenty (G20). This vital initiative is designed to address the escalating debt risks faced by low-income countries, especially in light of the global debt crisis and the mounting challenges related to debt sustainability.
