GCC Leaders Meet in Bahrain to Boost Regional Cooperation

Bahrain is hosting the 46th Gulf Cooperation Council Summit, bringing together the leaders of all GCC countries for an important meeting. This gathering marks a new stage in their journey, as the GCC moves from basic coordination to full regional integration. The aim is to work more closely in all fields and build a stronger future for the region.

Over the years, GCC countries have strengthened their position as a powerful regional group with global influence. They continue to expand joint work in economy, energy, sustainability, and development. Their cooperation has helped them build stronger partnerships and support long-term progress.

In 2024, the GCC economy was valued at more than US$2.3 trillion, showing strong financial performance. The average income per person crossed US$38,000, reflecting stable growth. A major achievement is that the non-oil sector now makes up 76 percent of the total economy, showing successful efforts to diversify away from oil.

The financial markets in GCC countries also performed well. By the end of last year, the total market value reached US$4.2 trillion. Deposits in commercial banks grew to US$2.1 trillion, and bank assets reached US$3.5 trillion, proving the region’s strong financial sector.

Trade within the GCC also increased. The region recorded a US$109.7 billion merchandise trade surplus in 2024, placing it among the highest in the world. Trade between GCC states reached US$146 billion, showing a 10 percent rise compared to 2023. This growth highlights rising cooperation among member countries.

In global trade, GCC nations recorded a total merchandise trade value of US$1.6 trillion, representing 3.2 percent of the world’s trade. Exports alone were worth US$850 billion, strengthening the GCC’s role as a major global trading region.

Energy remains one of the GCC’s strongest sectors. GCC states hold 511.9 billion barrels of crude oil reserves, about 32.7 percent of global reserves. They produce 16.1 million barrels per day, which is 21.8 percent of global production. In natural gas, GCC countries have reserves of 44.3 trillion cubic metres, representing 21.2 percent of global reserves. Their liquefied natural gas production accounts for 10.3 percent of the world’s output.

Tourism is also growing. In 2024, around 1.7 million workers were employed in the tourism sector, which grew by 2.8 percent from the previous year. The number of hotels increased to 11,200, supporting the region’s tourism growth. The sector contributed US$145.8 billion to the economy, reaching 64 percent of its 2030 target.

GCC countries are also working to strengthen the circular economy and manage waste more effectively. Their goals include reducing 60–90 percent of waste going to landfills by 2030–2040. They are also active participants in the Basel Convention, helping control the movement of hazardous waste across borders. The GCC waste management market is expected to reach US$95 billion between 2025 and 2032.

In environmental protection, GCC states have designated 15 percent of their land as natural reserves. They invested US$300 million to reduce carbon emissions through the GCC power grid project. They also support the Middle East Green Initiative, which aims to plant 50 billion trees.

Renewable energy is another major focus. GCC countries now have 14.2 gigawatts of renewable energy capacity and aim to produce more than 50 percent of their electricity from renewable sources by 2050. They are also investing US$11 billion in green hydrogen and green ammonia projects worldwide.

Social welfare continues to improve. There are about 950,000 retirees in the GCC, and more than 450,000 dependants benefit from pension systems. Insurance benefits have exceeded US$450 billion, while insured amounts are more than US$15 billion.

Healthcare is also advancing. GCC states now have 882 hospitals, and healthcare spending is expected to reach US$159 billion by 2029. The digital health sector alone is expected to generate US$1.8 billion in revenue by 2025.

Through these achievements, the GCC continues to strengthen cooperation, support innovation, and build a sustainable future for the region and its people.