Bahrain Welcomes Leaders for the 46th GCC Summit to Enhance Regional Cooperation

Post by : Mara Rahim

This Wednesday marks the commencement of the forty-sixth GCC Summit in Manama, Bahrain, where leaders from all Gulf Cooperation Council nations will convene. His Majesty Sultan Haitham bin Tarik is set to lead Oman’s delegation, showcasing a commitment to Gulf unity, peace, and shared prosperity.

During the summit, discussions will focus on the political, economic, and security collaborations achieved by GCC countries. Key topics will include regional and global developments that influence Gulf stability. Moreover, strategies for bolstering economic integration, energy security, trade, investment, and collaborative approaches to global challenges will be explored.

Jassem Mohammed Al Budaiwi, Secretary-General of the GCC, underscored the necessity of reinforcing Gulf cooperation across different levels. He expressed optimism that this summit in Bahrain will yield resolutions that enhance the Council’s influence regionally and globally. The agenda underscores member states’ commitment to unity, development, and enhancing citizens’ welfare.

The prior summit, held in Kuwait in December 2024, spotlighted economic and environmental initiatives, such as advancing clean energy, tech investments, food security, and economic integration. Notable joint projects included enhancements in strategic transportation, electrical interconnection, and artificial intelligence sectors.

GCC economic growth has shown resilience in 2024, with non-oil sectors expanding by 4.4 percent, contributing to an overall GDP growth of 1.9 percent. Foreign Direct Investment (FDI) inflows reached approximately USD 523.4 billion in 2023, reflecting robust international trust. Intra-Gulf investments surged from USD 88.2 billion in 2015 to USD 130.3 billion in 2023, accounting for 20 percent of the region's investment stock.

Public revenues across GCC states hit USD 670.2 billion in 2024, while expenditures were at USD 659.3 billion. Non-oil revenues saw a boost due to VAT and advances in digital financial management. Financial markets maintained positive trajectories, with market capitalization climbing to USD 4.2 trillion.

Oman remains devoted to supporting GCC initiatives, including electrical grid connections, renewable energy projects, and the Gulf Railway, which will interlink all six member nations. The country also champions trade, connectivity, and cybersecurity cooperation as part of its overarching strategic vision.

Discussions will also encompass the unified Gulf tourist visa, designed to facilitate traveler access across all member states with a single visa, thus promoting tourism and economic advancement. GCC countries are working to maintain coordinated responses on global matters, ensuring regional security and fostering sustainable development.

Preparatory meetings of GCC foreign ministers took place in Manama, during which Kuwait officially transferred the Ministerial Council presidency to Bahrain. This summit symbolizes over four decades of collective Gulf endeavors aimed at reinforcing unity, cooperation, and prosperity throughout the region.