Gulf Summit calls for financial and monetary union in 2025
The closing statement of the 40th Gulf Summit, which was hosted by the Saudi capital, Riyadh, stressed the importance of cooperation between the Gulf countries and activating the mechanisms of strategic partnerships.
The closing statement of the 40th Gulf Summit, which was hosted by the Saudi capital, Riyadh, stressed the importance of cooperation between the Gulf countries and activating the mechanisms of strategic partnerships.
The statement, which was read out by the Secretary General of the Gulf Cooperation Council, Abdullatif Al Zayani, on Tuesday, called for a financial and monetary union by the year 2025, stressing the need to work towards achieving economic integration and a customs union.
He added that the challenges require strengthening cooperation and partnership with brotherly and friendly countries, adding that all measures are being completed to ensure the security of the Gulf states.
The closing statement also stressed the importance of working to find solutions to common challenges such as water and agriculture, calling for strengthening military and security cooperation to maintain regional security.
The Saudi monarch, King Salman bin Abdulaziz, has called on the leaders of the Gulf Cooperation Council countries to confront the hostilities of Iran.
“Our region today is experiencing circumstances and challenges that call for a concerted effort to confront it, as the Iranian regime continues its hostilities to undermine security and stability,” King Salman said during the opening of the summit.
In a televised speech, he also urged the international community to deal with Iran’s nuclear program and its ballistic missile program.
This ended on the eve of the forty-day summit in Riyadh, the Gulf Cooperation Council, which worked to strengthen the march of work, cooperation and common Gulf integration, and discussed the most important files and challenges related to security and stability in the region.
This Gulf meeting is the eighth that the Kingdom has hosted since the founding of the Cooperation Council in May 1981, and it remains the main title for the work of this session: enhancing the march of work, cooperation and common Gulf integration.
