He made the remarks during the 15th Consultative Meeting of GCC Ministers of Commerce and Industry and Chairmen of GCC Chambers and Federations, which discussed improving the business environment, strengthening economic cooperation and addressing challenges facing the private sector.
Kanoo stressed that deeper economic integration requires facilitating the movement of goods, services, capital and businesspeople, streamlining procedures and removing barriers that restrict companies’ growth across GCC markets. He called for stronger government-private sector cooperation to translate business needs into practical initiatives that enhance intra-GCC trade and competitiveness.
He noted that regional developments, including the Iranian attacks and their impact on trade, transport and supply chains, highlight the importance of economic resilience and coordinated action. He commended GCC leaders for their proactive measures and cooperation in maintaining the flow of essential goods and supporting market stability.
Kanoo emphasised the need to build on these efforts by strengthening economic and food security, diversifying supply sources and routes, developing logistics alternatives and improving transport networks. He also highlighted opportunities to expand cooperation in food, pharmaceutical and agricultural industries to enhance supply chain resilience.
He further stressed the importance of enabling GCC businesses to establish cross-border partnerships and benefit from regional investment opportunities. Particular attention, he noted, should be given to small and medium-sized enterprises (SMEs) by improving their access to finance, markets and investment opportunities.
Kanoo highlighted the role of GCC chambers and federations in representing business interests, identifying challenges and proposing improvements to legislation and procedures. He stressed that cooperation should deliver tangible results by facilitating trade, encouraging joint investment and creating opportunities for businesses to expand.
He concluded by reaffirming the BCCI’s commitment to working with the Federation of GCC Chambers, regional chambers and relevant government entities to advance practical initiatives, deepen economic integration and strengthen the private sector’s contribution to sustainable growth across the GCC.
