Riyadh-Amlak
The meeting of the ministers of industry and trade in the GCC countries, which was held in Riyadh last week, discussed the commercial fraud system and its entry into the stage of compulsory in the future, support for local industries to have a 10 percent preference, and a study to activate national products manufactured within member states and benefit from them, achieve economic integration and use them, increase trade exchange and develop local industries.

This was explained by the Minister of Commerce and Industry Dr. Tawfiq Al-Rabeeah, pointing out that talks with the European Union countries are ongoing and are being studied in the field of trade exchange with it, stressing that the positions of the Gulf countries are sound with regard to industrial organization, and all matters related to this matter have been refuted.
For his part, GCC Secretary General Abdullatif Al-Zayani stressed that industrialization has become an essential means of achieving economic and social development, diversifying sources of income, benefiting from advanced technology and keeping pace with its development, and that it has become a strategic choice to achieve economic growth in the GCC countries. He said that the GCC countries have adopted many industrial development plans and programs that have enabled them to establish many advanced industries, and the plans and programs have paid clear attention to the role of the Gulf private sector in achieving this development and that the trend towards the liberalization of international trade and increased global competition within the framework of the World Trade Organization, creates opportunities as well as challenges, which requires the need to deal positively with this trend by developing the experience of cooperation in the industrial field.