Doha: The Supreme Council has endorsed a Media Strategy aimed at improving cooperation among the GCC states, reinforcing the Gulf, Arab, and Islamic identity of the member countries, promoting Gulf citizenship, and supporting the cohesion and security of Gulf society. The strategy also seeks to raise public awareness among citizens and residents and foster the journey of the GCC through integration between official and non-official institutions in the member states.
According to Qatar News Agency, during its 33rd session, the Supreme Council adopted the Petroleum Strategy for member states, emphasizing the political and economic significance of the GCC countries globally. The strategy recognizes the GCC's leading role in the petroleum industry and its substantial influence due to holding the largest proven oil reserves and being the top region in oil production and export.
On the foreign policy front, the GCC has developed unified positions on political issues concerning its six member states within various frameworks. It has operated as a single entity in international interactions, adhering to principles of mutual respect and non-interference in internal affairs. This approach has safeguarded member states' interests while enhancing their security and prosperity. The GCC has strengthened its regional presence and asserted itself as an active partner in promoting global peace and stability. The council has also expanded strategic partnerships and dialogues and engaged in free trade negotiations with global economic entities to advance mutual interests. Numerous free trade agreements have been signed to facilitate the movement of goods, enhance intra-regional trade, and strengthen commercial ties.
The GCC is a significant economic entity on the international scene, representing a substantial market for global exports and playing a crucial role in supplying oil and gas to global energy markets. The GCC countries control about one-third of the world's oil reserves, ranking first in crude oil production and reserves, third in natural gas marketed production, and first in natural gas reserves. This gives the Council considerable leverage in maintaining the stability of global energy markets.
GCC states are also prominent on the list of the world's largest sovereign wealth funds, collectively possessing assets worth approximately $4.4 trillion, accounting for 34% of the total assets held by the top 100 sovereign wealth funds globally. This provides the GCC significant influence in global markets and international investment.
Thus, the journey of the Gulf Cooperation Council continues with determination and confidence. The GCC remains committed to implementing ambitious development plans in each member state to achieve comprehensive and sustainable development, with the Gulf citizen as its core focus, primary goal, and main driving force. The advanced global indicators reflect the economic stature of the GCC countries, which have become a leading model not only at the Gulf level but also regionally and globally.