The leaders of the Gulf Cooperation Council are expected to delve into prominent economic issues during the GCC’s 44th Supreme Council Summit in Doha on Tuesday.
Among the key topics to be discussed are the completion of steps towards establishing a customs union by the end of 2024, the railway project connecting member states, and the approval of the unified Gulf tourist visa project.
The GCC’s 43rd Supreme Council Summit held in the Saudi capital, Riyadh, last year, mandated the Financial and Economic Cooperation Committee to oversee the completion of steps towards establishing a customs union by the end of 2024.
This encompasses the unhindered movement of goods between GCC countries without customs or non-customs restrictions and treating goods produced in any of the GCC countries on par with national products.
Another critical agenda item for the summit is the Gulf Railway project, which was endorsed in 2003.
At that time, the leaders of the six nations tasked the Ministerial Committee of Transport and Communications with conducting an economic feasibility study for the joint railway project named the “Gulf Railway.”
The project was officially approved in 2009.
In its initial phase, the project will connect the United Arab Emirates, Saudi Arabia, and the Sultanate of Oman. The second phase will witness the linkage of Bahrain, Saudi Arabia, and Kuwait.
During the Middle East Rail Conference held in Abu Dhabi on May 16, 2023, GCC Secretary-General Jassem Al-Budaiwi reaffirmed that the six GCC member states were going ahead with efforts to complete the railway project.
He spoke highly of the project as being a significant step towards joint integration in the Gulf region.
Furthermore, the tourist visa issue is also expected to be on the agenda of the gathering as part of the Gulf tourist visa strategy for 2023-2030.
The strategy is meant to boost the number of incoming flights into Gulf countries on an annual basis of seven percent at a time when the number of visitors hit 38.8 million last year, a growth rate of 136.6% , compared to 2021.
The target is to increase the number of tourists into Gulf countries up to 128.7 million by 2030.
The tourist visa project, which has already been approved by the interior ministers of the GCC member states, is most likely to be put in place by the end of 2025.
