Al-Jadaan was chairing the 116th meeting of the Financial and Economic Cooperation Committee at the Gulf Cooperation Council (GCC) for Arab States at the GCC headquarters in Riyadh on Monday.

GCC ministers of finance, GCC Secretary-General Dr. Nayef Falah Al-Hajraf and senior officials and specialists took part in the meeting.

The ministers reviewed the outcomes of work this year by all relevant committees that support economic unity. The meeting assessed the achievements of these committees and the prospects of enhancing their role in consolidating cooperation among GCC countries.

The ministers also discussed G20 initiatives in the financial course and their impact on GCC countries as well as the remaining steps to establish the customs federation and the joint Gulf market, according to a set timetable.

Al-Jadaan stressed that Saudi Arabia, throughout its presidency and with the unlimited backing of GCC countries, will continue to support the joint Gulf action and contribute to developing economic relations until reaching the aspirations of GCC leaders and citizens, in a bid to realize and implement decisions of the Supreme Council, activate the customs federation commission and grant it powers necessary to implement its tasks.

He praised the important role of the secretariat general in expanding cooperation and matching the visions of GCC.

The meeting of the Financial and Economic Committee is held periodically to discuss all topics related to the joint Gulf economic action and the latest developments and economic procedures that GCC countries have adopted to realize joint strategic interests on the long term.