He emphasised that the Qatari regime's destructive attempts will not succeed in the midst of the keenness of GCC
citizens to rally behind wise GCC
has made significant investment in telecommunication sector, real estate, transport, steel and financial sector and getting benefits of business friendly investment policy of Pakistan.
"The introduction of new taxes such as VAT, discrepancies between domestic tax legislation, double tax treaties and the tax authorities' approaches add an additional layer of complexity for foreign investors seeking to do business in the GCC
Proposed amendments of the GCC
Industrial Cooperation Committee on exempting industry inputs from customs taxes
"The ministers agreed on the need to reinforce joint work to ensure further security and stability in the region," Abdul Lateef Al Zayani, the GCC
secretary general, said.
"The vision of the GCC
leaders has contributed to building a global economic bloc aimed at reaching economic integration through establishing a customs union between the GCC
countries in the first stage, and establishing a common GCC
market later on," Al Bustani elaborated.
Dr Scott Kennedy, Dean of Research, and Associate Professor - Engineering Systems and Management, Masdar Institute, said: "The report identifies areas that need to be strengthened and spells out measures to be implemented in the GCC
They include the final report on the Third GCC
Women's Games, which Bahrain hosted this year in March, in addition to the GCC
General Secretariat participation in the joint GCC
activities in the sports field.
The topics discussed at the meeting included the UAE's proposals to develop the GCC
Common Market and to document the basic principles of the VAT system, the Qatar initiative regarding the WTO natural gas and the functioning of the customs information center as well as establishing the GCC
Al-Shimali hailed -- in an exclusive statement to the media -- at the close of the 88th extraordinary meeting of the financial and economic committee of GCC
Arab states the meeting's cordial atmosphere that led to reaching unanimous decisions.
Dow Jones indexes expands index series for gcc
and mena regions
The six-member Gulf Cooperation Council (GCC
) with a combined economy of $715bn makes history with the launch of a common market, which is expected to draw more foreign investment to the region.