GCC ministers of Commerce and Industry hold meetings

Jeddah, September 11, SPA -- Ministers of Commerce and Industry of
the Gulf Cooperation Council (GCC) held the 39th meeting for the GCC
Commercial Cooperation Committee and the 28th meeting for the
Industrial Cooperation Committee under the chairmanship of Sheikh
Fahd bin Jasem Al Thani, Minister of Business and Commerce of Qatar,
the president of the current session.

In a statement following the meeting, Assistant Secretary General for
Economic Affairs at the Secretariat General of the GCC Mohammed bin
Obeid Al-Mazroo'e said the ministers approved a proposal to address
the companies and authorities specialized in agricultural investment
to conduct a feasibility study for a project aiming at curbing the
current foodstuffs price hikes and provide food security for the GCC
member countries.

According to the proposal, the GCC countries would collectively
invest in agricultural projects that would provide food security for
their people and bring down the food price fever of today.

Al-Mazroo'e said the ministers issued instructions to the Secretariat
General to address the specialized authorities and companies, citing
the Arab Commission for Agricultural Investment and the Gulf
Investment Foundation.

He said the proposal presented by the Custodian of the Two Holy
Mosques King Abdullah bin Abdulaziz Al Saud to accelerate performance
and eradicate obstacles impeding the joint march action of the GCC
countries has received great attention of the conferees and was
subject to a thorough discussion among the ministers who called for
positive dealing with it in a way that guarantees its complete
implementation.
--SPA