Kuwait, June 01 (QNA) - GCC Secretary-General Jasem Mohamed AlBudaiwi stated that the bloc's countries have achieved many important accomplishments that enhance their position as a global financial, investment, and economic hub. He indicated that the GCC countries are moving forward toward completing the necessary steps to achieve Gulf economic integration, thereby contributing to enhancing joint Gulf action and keeping up with global realignments. AlBudaiwi was speaking during the 123rd meeting of the Financial and Economic Cooperation Committee of the Gulf Cooperation Council (GCC), held in the State of Kuwait on Sunday. He stated that the GCC countries have worked to establish strategic relationships with many countries and international economic groups in various fields, which reflects their global economic position. The Gulf-European Summit, the Gulf-American Summit, the Gulf Summit with the Association of Southeast Asian Nations (ASEAN), and the Gulf Summit with ASEAN countries and the People's Republic of China were living testimonies to the increasing global position that the GCC has come to occupy on the world stage, AlBudaiwi highlighted. AlBudaiwi pointed out that the GCC countries have proven, even in the darkest and most difficult circumstances, their ability to overcome crises efficiently and competently, based on wise policies and sound strategic visions that have enabled them to maintain their stability and continue their growth. The GCC has continued to achieve development rates that enhance its position as a global economic power and as a driver of regional growth, he underlined. He further touched on the most important indicators that highlight the economic position of the GCC countries, stating that the total gross domestic product of the GCC countries together amounted to about USD 2.2 trillion, which puts them collectively in ninth place globally in terms of GDP. The Gulf financial markets rank seventh globally in terms of market value, with a share of 4.3% of the total global markets. The GCC countries have also made leaps in the value-added indicators of the non-oil sector, with the contribution of non-oil activities to the gross domestic product reaching 75.9% in 2024. The member states are also continuing to implement strategies for economic diversification, AlBudaiwi said. AlBudaiwi affirmed that the GCC countries are classified among the most prepared countries in the world to implement the digital economy, adding that the GCC countries possess modern infrastructure, both in terms of the private sector's and individuals' use of Fourth Industrial Revolution applications. These indicators are a clear sign of the significant opportunities and prominent position of the GCC economies. He praised the efforts and role of the GCC Financial and Economic Cooperation Committee and its work and objectives that would deepen economic integration between the GCC countries and achieve the highest economic gains that enhance joint economic action and push its progress forward. (QNA)