Manama:Small and medium-sized enterprises (SMEs) are essential in achieving the national visions of Gulf Cooperation Council (GCC) member states and enhancing Gulf cooperation, according to Jasem Mohamed Albudaiwi, the Secretary-General of the GCC.
According to Qatar News Agency, Albudaiwi shared these insights during the 6th Consultative Meeting between Ministers of Commerce and Industry of the GCC and Gulf Entrepreneurs, which took place in Manama, Bahrain. The meeting was chaired by Abdulla bin Adel Fakhro, the Minister of Industry and Commerce in Bahrain and the current session's Chairman.
The gathering included participation from ministers of commerce and industry from the GCC member states, as well as Gulf entrepreneurs. Albudaiwi emphasized that the meeting serves as an opportunity to identify and address challenges confronting SMEs, in line with the directives of GCC leaders to prioritize and empower this sector for economic integration.
He stressed the importance of continuing efforts to create a supportive environment for SME growth. The GCC chief also highlighted the significance of public-private partnerships, especially those involving SMEs, and the commitment to fostering dialogue among policymakers, decision-makers, and entrepreneurs.
Albudaiwi concluded by noting that these engagements aim to bolster economic growth throughout the GCC while assisting the Gulf private sector in navigating regional and international economic challenges.