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UAE all set for the GCC Summit

posted on 17/12/2005: 1161 views



The United Arab Emirates has extended a warm welcome to the Gulf leaders who will gather here for the 16th GCC Summit which will go on session on Sunday.



The UAE Supreme Council, at its meeting on December 3 under the chairmanship of President H.H. Sheikh Khalifa bin Zayed Al Nahyan, welcomed the GCC leaders and wished them success in further boosting the GCC cooperation and realizing the aspirations of its people.



President H.H. Sheikh Khalifa has assured the GCC Secretary General Abdul Rahman bin Hamad Al Attiyah, that the UAE will spare no effort in backing the GCC and will work hand in hand with other member states toward this end.



Al Attiyah described the Abu Dhabi Summit as a historical one and a milestone as it coincides with the 25th anniversary of the Council which was launched from Abu Dhabi. Paying tribute to the late Sheikh Zayed Al Nahyan and his instrumental role in the creation of the Council, Al Attiyah hailed the Council's resolve to stand against all odds.



The Summit also featured prominently on the President's nation address marking the 34th National Day. President H.H. Sheikh Khalifa has vowed to "continue the process of consultation with our brothers the GCC leaders on the best means of boosting the Council to become more effective in addressing the challenges of regional security and development and prosperity of our countries". The GCC Ministerial Council is already in session preparing for big event.



Al Attiyah has praised the "pivotal role" of the UAE, under the leadership of President H.H. Sheikh Khalifa bin Zayed Al Nahyan in supporting GCC cooperation, saying the fact that the GCC was "born" in Abu Dhabi "carried a good omen".



The UAE has always shown commitment to the GCC resolutions. During the current year, it endorsed the inter-GCC anti-terrorism accord, and the unified industrial organization act, approved by the Mamma Summit as an obligatory regulation on all GCC member states.



President H.H. Sheikh Khalifa issued decrees endorsing two economic cooperation pacts between the GCC countries and Pakistan, India, Turkey, Mercosure Countries (Argentina, Brazil, Paraguay, and Uruguay). Another Presidential decree endorsed an agreement on a free trade zone between the GCC and Lebanon.



The GCC citizens engaged in business in the UAE amounted to 8,485 in 2004, up from 7,384 in 2003, while the number of those who acquired real estates in the UAE reached over 8,746.



During 2004 also, a Cabinet decree permitted GCC natural and corporate citizens to establish and subscribe to the capital of new firms in the UAE. It also permitted GCC citizens to acquire and trade in shares of the existing joint-stock companies engaged in activities open for GCC citizens. (The Emirates News Agency, WAM)

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