Riyadh, May 14 (QNA) - Secretary-General of Gulf Cooperation Council (GCC) Jasem Mohamed Albudaiwi said developments and changes witnessed in the region over the recent period have confirmed that strengthening Gulf integration and coordination is no longer merely an institutional option, but has become a strategic necessity to support economic and development readiness, enhance the collective ability of GCC states to address regional and international changes, and preserve the stability of vital sectors, supply chains and markets.

Albudaiwi stated that Gulf integration constitutes a key pillar for boosting economic growth and increasing investment opportunities, in addition to its role in enabling GCC states to absorb shocks and ensure the flow of goods and services, thereby strengthening the shared economic security of the GCC countries.

His remarks came during the ninth meeting of the Permanent Ministerial Preparatory Committee of the GCC Economic and Development Affairs of the GCC, held on Thursday via videoconference and chaired by Bahrain, the current presidency of the Financial and Economic Cooperation Committee.

The GCC Secretary-General stressed that the meeting comes within the framework of enhancing Gulf efforts aimed at implementing the directives of the 19th consultative meeting of Their Majesties and Highnesses, the leaders of the GCC states, which underscored the need to accelerate the completion of the requirements for implementing joint Gulf projects.

These include transport and logistics projects, the GCC railway project, strengthening electricity interconnection among GCC states, studying the establishment of oil and gas pipelines, the water interconnection project, and the creation of GCC strategic stock zones, while considering the liquidity reserves of Gulf central banks. (QNA)