GCC Secretary General: Recommendations of Central Bank Governors Enhance Integration

Gulf Cooperation Council (GCC) Secretary-General Jasem Mohamed Albudaiwi
Gulf Cooperation Council (GCC) Secretary-General Jasem Mohamed Albudaiwi
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GCC Secretary General: Recommendations of Central Bank Governors Enhance Integration

Gulf Cooperation Council (GCC) Secretary-General Jasem Mohamed Albudaiwi
Gulf Cooperation Council (GCC) Secretary-General Jasem Mohamed Albudaiwi

Gulf Cooperation Council (GCC) Secretary-General Jasem Mohamed Albudaiwi said Thursday that the outcomes and recommendations of the latest meeting of the Committee of Governors of Central Banks would help enhance financial and economic integration among GCC countries.

His remarks came during the 83rd meeting of the Committee of Governors of Central Banks of the GCC countries held in Doha.

The meeting was chaired by the Governor of the Central Bank of Qatar and current session chairman Shaikh Bandar bin Mohammed bin Saoud Al Thani.

In his statement, Albudaiwi expressed gratitude to Qatari Emir and the President of the Supreme Council in its current session, Sheikh Tamim bin Hamad Al Thani, for Qatar's sincere efforts and diligent work to strengthen the GCC's unity.

He also praised the committee's valuable efforts to enhance cooperation and economic integration among the GCC countries, particularly in the monetary and banking fields. Albudaiwi cited achievements such as the adoption of guiding standards in banking and financial supervision, coordination in combating money laundering and terrorist financing, and the facilitation of financial transactions among GCC countries through advanced technological systems.

Albudaiwi added that the committee's decisions and recommendations on the meeting agenda would promote economic unity among the GCC countries in all monetary matters and drive them forward in this field.



Canada Mulls Surtax on Chinese Critical Mineral Products, Batteries, Solar Products

The sun rises against high-rise buildings in Beijing on September 6, 2024. (Photo by ADEK BERRY / AFP)
The sun rises against high-rise buildings in Beijing on September 6, 2024. (Photo by ADEK BERRY / AFP)
TT

Canada Mulls Surtax on Chinese Critical Mineral Products, Batteries, Solar Products

The sun rises against high-rise buildings in Beijing on September 6, 2024. (Photo by ADEK BERRY / AFP)
The sun rises against high-rise buildings in Beijing on September 6, 2024. (Photo by ADEK BERRY / AFP)

Canada has said it was considering a potential surtax on Chinese critical mineral products, batteries and parts, solar products, and semiconductors, a move which could prompt more retaliation from Beijing.
Canada announced last month it would impose a 100% tariff on imports of Chinese electric vehicles and announced a 25% tariff on steel and aluminum from China.
According to Reuters, the finance ministry said in a statement it was launching a 30-day public consultation period on the potential surtax. It ran a similar exercise before the first tariff announcement.
"Canadian workers, the auto sector, and related critical manufacturing supply chains currently face unfair competition from Chinese producers, who benefit from China's intentional, state-directed policy of overcapacity," it said.
A Chinese embassy spokesperson described the Canadian announcement as "expanding its unilateralism and protectionism measures,” adding that "China strongly opposes such measures and will continue to take resolute measures to defend its legitimate rights."
China, which deplored the tariffs unveiled in August, announced on Monday the start of a one-year anti-dumping investigation into imports of rapeseed from Canada.