Kuwait hosts meeting of GCC finance officials

KUWAIT: The State of Kuwait is gearing up to host the 43rd meeting of the Committee of Gulf Cooperation Council Under-Secretaries of Finance and Economy on Wednesday. According to Kuwait News Agency, KUNA, a statement by the Finance Ministry on Monday said the meeting is in preparation for the upcoming 98th ministerial meeting of the Financial and Economic Cooperation Committee due to be held in Kuwait in May.

The agenda, the ministry said, covers issues including follow-up on measures aiming at monetary and economic integration, and the follow-up regarding the Kuwaiti proposal to amend standing order, as well as discussions on competencies of the Financial and Economic Cooperation Committee.

The officials are also to review memos of meetings by the Committee of Governors of Central Banks and Monetary Institutions, and by the Customs Union Authority, and other GCC bodies.

Also on the agenda are the memos of meetings of the Customs Union Committee, GCC Joint Market Committee, and of the team tasked with presenting a study regarding privileges and incentives for the private sector and the team’s findings. The Under-Secretaries will also consider recommendations regarding governance and recommendations of the team tasked to draft a GCC joint tax system.

The Kuwaiti delegation to the meeting would be headed by Finance Under-Secretary, Khalifah Hamadah, who is also to preside over the two-day sessions.