The 11th Economic Dialogue between the GCC countries and EU

The eleventh economic dialogue between the countries of the Cooperation Council for the Arab States of the Gulf and the European Union was held today, via video call, within the framework of implementing the joint work program.

The Assistant Secretary-General of the Cooperation Council for Political Affairs and Negotiations, Abdulaziz Hamad Al-Aweishek, explained that the economic dialogue has been held regularly since its establishment in 2003, and in its edition this year, he shed light on the economic and social impacts of the emerging coronavirus pandemic and the tools that have been used to address these challenges.

The dialogue discussed working papers presented by the Gulf Cooperation Council on the effects of the pandemic on financial policies, labor market policies, oil price fluctuations, and economic transformation programs in the GCC countries.

The European side presented working papers on the impact of the pandemic on the European economy, expected future developments regarding economic stimulus programs, monetary and financial policies, and the impact of the pandemic on the economic transformation in Europe towards a green economy and digital economy.

The European side also presented a working paper on the international role of the euro, and its aspirations to enhance the benefits of the euro currency in the global economy.

A group of experts and specialists and a number of officials participated in the meeting, from the member states of the Cooperation Council states, the General Secretariat of the Cooperation Council, and the Council’s Statistical Center.