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IPS 2024: Gateway for Investors Eyeing Growth in GCC Real Estat

Dubai and Abu Dhabi played a pivotal role, contributing over 48% of the total transaction value in line with Dubai Economic Agenda D33 and Abu Dhabi Economic Vision 2030, respectively. …reports Asian Lite News


The Gulf Cooperation Council (GCC) real estate market is witnessing remarkable growth. The International Property Show 2024 (IPS) at the Dubai World Trade Centre, scheduled for February 27-29, 2024, serves as the prime platform for global investors to discover and seize opportunities in this thriving market.

The GCC real estate market’s remarkable growth is further underscored by the projection that its value will reach US$4.43 trillion by the end of 2023, according to a Statista report. Residential real estate dominates the GCC market with a projected volume of US$2.98 trillion, displaying a steady annual growth rate (CAGR 2023-2028) of 2.65%, expected to reach US$5.05 trillion by 2028.

The buoyant UAE property sector has been a driving force, with real estate sale transactions across the GCC reaching an impressive $143.1 billion from January to October 2022, as per a comprehensive report by Kamco Invest. This figure surpassed the full-year total of $136.9 billion in 2021, showcasing the robust performance of the region’s real estate sub-segments.

Abu Dhabi

Dubai and Abu Dhabi played a pivotal role, contributing over 48% of the total transaction value in line with Dubai Economic Agenda D33 and Abu Dhabi Economic Vision 2030, respectively. Meanwhile, Saudi Arabia added 35.6% to the total transaction value, in line with its Saudi Vision 2030, hence solidifying the region’s upward trajectory.

The Kamco report also highlighted an 81% surge in value transacted in Dubai, propelled by demand for luxury residential properties and robust revenues in the affordable segment. The average value per transaction in Saudi Arabia and Dubai increased by 35.5% and 12.2% respectively, indicating rising end-user demand and strong investment appetite.

Considering these numbers, IPS 2024 provides the ideal platform for investors, developers, and industry professionals to delve into the thriving GCC real estate market. The event promises exclusive insights, networking opportunities, and a chance to explore lucrative investment options in the evolving real estate landscape of the Gulf region.

IPS will also contribute to enhancing opportunities for knowledge and experience sharing among exhibitors, key players of the real estate market, government officials and agencies, and visitors. The event will also serve as a platform for forging new agreements and partnerships, to strengthen the connections between the real estate market stakeholders from different countries of the GCC region.

To be held in partnership with the Dubai Land Department, IPS 2024 attracts exhibitors from over 140 countries around the world, including India, United Kingdom, Turkey, Pakistan, Saudi Arabia, Qatar, Oman, and Egypt, in addition to the United Arab Emirates. For its 20th anniversary run, IPS will also feature a diverse range of events that fall under its 11 main pillars, namely IPS Exhibition, IPS Conference, IPS Oscars, IPS Future Cities, IPS Connect, IPS Finance, IPS Women, IPS Youth, IPS Studio, IPS PropTech, and IPS Design, which are set to be organized not just once but throughout the whole year.

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‘India Working to Elevate GCC Ties in Hydrocarbon Sector’

Given India’s energy security needs, the committee urged the government to sustain momentum and actively pursue efforts to expand the energy partnership, including investments in renewable energy…reports Asian Lite News

India’s diplomatic ties with the Gulf Cooperation Council (GCC) in the hydrocarbon sector are evolving towards a strategic partnership, according to the Ministry of External Affairs (MEA), as conveyed to a parliamentary panel. The GCC, consisting of influential nations such as the United Arab Emirates, Bahrain, Saudi Arabia, Oman, Qatar, and Kuwait, plays a crucial role in India’s energy landscape.

In a report presented in the Lok Sabha, the parliamentary committee on external affairs highlighted the MEA’s emphasis on enhancing the existing buyer-seller relationship with GCC countries to a strategic partnership. The total trade volume between India and the GCC reached USD 184.46 billion in the fiscal year 2022-23, with exports at USD 51.27 billion and imports at USD 133.19 billion. The trade deficit is attributed to India’s heavy reliance on Gulf nations for energy, particularly oil and gas imports.

Given India’s energy security needs, the committee urged the government to sustain momentum and actively pursue efforts to expand the energy partnership, including investments in renewable energy. Responding to inquiries about strengthening relations with GCC countries and Iran for regional security, the MEA emphasized India’s commitment to dialogue and diplomacy for peaceful conflict resolution in the Gulf region.

The committee acknowledged the pivotal role of India’s relations with the GCC in global politics but expressed concerns about the potential threat posed by the presence of China and Pakistan in the Gulf region. The MEA assured the committee that India continues to strengthen historical ties with GCC nations and is collaborating with like-minded countries through initiatives such as the I2U2.

The I2U2 is a strategic grouping involving India, Israel, the United States, and the UAE, focusing on joint investments in areas like water, energy, transportation, space, health, and food security. It aims to leverage private sector capital and expertise to modernize infrastructure, reduce carbon emissions, improve public health, and promote critical technologies.

Recognizing the Gulf region as India’s extended neighbourhood critical for trade, investment, energy, and the security of Indian residents, the committee urged the government to deepen political, economic, and cultural ties with GCC countries. It emphasized the importance of collaboration to create a robust architecture for the safety and security of the region, including a coordinated response mechanism to address threats.

In summary, India’s engagement with the GCC in the hydrocarbon sector is evolving into a strategic partnership, reflecting the countries’ mutual interests. The report underscores the significance of diplomatic efforts to strengthen ties, address regional security concerns, and promote collaborative initiatives for sustainable development.

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Al Bowardi Attends GCC Defence Council in Muscat

Mohammed bin Ahmed Al Bowardi, led the country’s delegation in a meeting focusing on common interests and strategies to boost defense collaboration among GCC member states…reports Asian Lite News

The UAE participated in the 20th meeting of the GCC Joint Defence Council, which convened in the Omani capital Muscat.

Mohammed bin Ahmed Al Bowardi, UAE Minister of State for Defence Affairs, headed the UAE’s delegation to the meeting, which discussed a set of topics of common interest and ways to enhance defence cooperation between GCC member states.Deputy Prime Minister of Defense Affairs in the Sultanate of Oman Shehab Al-Said the UAE minister.

Achievements made in the joint defence field were also reviewed during the meeting.

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Green Projects Could Boost GCC Economy to $13T by 2050

The UAE has invested more than US$40 billion in clean energy over the last 15 years, and has plans to invest an additional US$163.5 billion (Dh600 billion) in clean and renewable energy sources over the next three decades on the road to net zero.

The combined Gross Domestic Product (GDP) of the hydrocarbon-rich Gulf countries could more than double from a projected US$6 trillion to US$13 trillion by 2050, if the countries embrace a green growth strategy, according to a research report, Gulf Investment Report 2023, published by Century International Holdings Ltd, that is released at the World Investment Forum 2023 currently underway in Abu Dhabi.

The combined GDP of the GCC countries has already touched the US$2 trillion mark. Investment in green and sustainable projects could transform the region a global economic powerhouse.

“Gulf Investment Report 2023 has been initiated by Century Group as a knowledge series developed through in-depth data compilation for the wider industry stakeholders that will help them chart their future growth strategy and re-adjust their expansion plan as per the ground reality,” Bal Krishen Rathore, Chairman of Century International Holdings Ltd (CIHL), said.

However, the economic potential of the Gulf countries is not reflected in the global Foreign Direct Investment (FDI) ranking published every year in the annual World Investment Reports released by the United Nations Conference on Trade and Development (UNCTAD).

Total FDI flow into the GCC region declined 17.91 percent to US$37.12 billion in 2022, down from US$45.22 billion recorded in 2021, despite the UAE recording a 10 percent increase in FDI from US$20.66 billion in 2021 to US$22.73 billion in 2022, according to the World Investment Report 2023.

This is lower than the US$46.96 billion FDI attracted by Sweden last year and way below than the US$117.73 billion FDI received by Hong Kong or the US$141.21 billion FDI attracted by Singapore.

Despite this decline, the total FDI inflow into the GCC countries more than doubled in six years, reaching US$37.12 billion in 2022, up from US$15.52 billion in 2017 – which demonstrates a strong growth in the overall investment landscape.

GCC region’s inward FDI stock rose to US$529.78 billion at the end of 2022. This is at the backdrop of a 12 percent decline in global FDI flow to US$1.3 trillion in 2022, according to the Gulf Investment Report 2023.

However, in the GCC, the UAE stands out in terms of attracting investment. FDI inflow of US$22.73 billion into the UAE in 2022 represents 61.24 percent of the total FDI inflow of US$37.12 billion into the GCC in 2022, the records show. The UAE ranks fourth globally in greenfield investment projects with the number of projects reaching 997 in 2023, according to the World Investment Report 2023.

“The GDP of the GCC region has already touched the US$2 trillion mark. If the GCC countries continued business as usual, their combined GDP would grow to an expected US$6 trillion by 2050. However, embracing a green growth strategy could see the GCC GDP grow to over US$13 trillion by 2050,” World Bank said in an economic update.

Issam Abou Sleiman, Regional Director of World Bank in the MENA region, said, “The GCC economies have been a bright spot in an otherwise dark economic landscape. Average growth in the GCC surpassed 7 percent in 2022 led by Saudi Arabia, its biggest economy, which was globally the fastest growing large economy.

“The transition to a low-carbon economy has been accelerated by high oil and gas prices and the need for greater energy security in the wake of the war in Ukraine. Renewable energy industries will witness trillions of dollars of new investment as well as opportunities in upstream and downstream industries.

“The region also has the potential to be a lead producer of green and blue hydrogen. With the right regulations, policies, and investments to support the transition, GCC countries can emerge with stronger, more sustainable economies that generate rewarding jobs for their youth while simultaneously protecting the planet.”

The GCC countries have been attracting investment from all over the world for quite some time now. Information on investment have been published in bits and pieces in a scattered manner without coordination.

Habiba Al Marashi Al Hashimi, Co-Founder & Chairperson of the Emirates Environmental Group

And Board Member of Global Investors for Sustainable Development Alliance, said, “There has been a gap in putting together a comprehensive economic research book on investment across all economic sectors. As the region gains significance in the global community and aligns itself with the global growth and development, it becomes imperative for us to study, analyse and generate conclusion based on real data so that we, the industry stakeholders can map the future direction and trends.

“For example, environment and sustainability has gained momentum now, while some of us have been campaigning for it for the last three decades. I am glad to know that CIHL has undertaken this significant step through Gulf Investment Report 2023 to fill up this important knowledge gap.

“It is heartening to know that Gulf Investment Report 2023 also highlights investment in clean, green energy and environmental sustainability – areas in which the UAE has taken a leadership role in the region and the world – through the launch of Masdar – the world’s first carbon-neutral urban development, the development of the region’s first nuclear power plant, as well as the development of the world’s largest solar park – Mohammed Bin Rashid Solar Park, just to name a few.

“The UAE is investing heavily in clean and renewable energy. Despite being an oil producing country, the UAE has invested more than US$40 billion in clean energy over the last 15 years, and has plans to invest an additional US$163.5 billion (Dh600 billion) in clean and renewable energy sources over the next three decades on the road to net zero.”

The astonishing economic growth of the GCC countries, particularly the United Arab Emirates (UAE), over the past five decades is nothing short of a remarkable economic miracle. However, this remarkable growth story has often lacked comprehensive, updated statistics and credible information that researchers can use to dissect and analyse the region’s economic evolution. The Gulf Investment Report 2023, spearheaded by Century Financial Group, endeavours to address this critical gap in economic research.

GCC countries can realise up to US$300 billion in foreign direct investment if they move quickly to seize the opportunity of becoming a centre for Global Value Chains (GVC) that are being reconfigured towards resilient and sustainable industries, according to a report by Strategy&.

The member countries of the GCC region have been relaxing their investment regime to allow greater foreign investment. Some of the member states including the UAE, Bahrain and Qatar now allow 100 percent foreign ownership in businesses and they have eliminated the mandatory requirement of a local partner in the mainstream on-shore businesses in most categories of businesses.

In 2019, the UAE Government launched the 10-year Golden Visa scheme – that has helped attracted a large pool of investors to not only invest in the UAE economy, but also to relocate their businesses in the UAE. In selected cases, the UAE Government also had started giving UAE passports to investors who fulfil certain criteria.

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GCC, ASEAN Leaders Seek Peace in Gaza

President H.H. Sheikh Mohamed bin Zayed Al Nahyan is leading the UAE delegation to participate in the joint summit of the Gulf Cooperation Council (GCC) and the Association of Southeast Asian Nations (ASEAN) in Riyadh….reports Asian Lite News

Saudi Crown Prince Mohammed bin Salman emphasized the Kingdom’s unwavering support for achieving a just resolution to the Palestinian issue during his opening speech at the inaugural Gulf Cooperation Council-Association of Southeast Asian Nations Summit held in Riyadh. He expressed deep concern over the escalating violence in Gaza, which has led to innocent civilians bearing the brunt, and firmly condemned the targeting of civiliants.

Indonesian President Joko Widodo, who led the 10-member ASEAN this year, echoed these sentiments, calling for an end to the violence in Gaza in accordance with international laws. Crown Prince Mohammed underscored Saudi Arabia’s commitment to enhancing its relations with ASEAN countries across various sectors.

While the GCC and ASEAN established their relations in 1990, this summit marked their first meeting, aimed at optimising collaboration between the two regional groups. The ASEAN delegation was led by ASEAN Secretary-General Dr. Kao Kim Hourn, and the summit concluded with the issuance of a joint statement outlining the outcomes and cooperation plans for the period from 2024 to 2028.

For Southeast Asian leaders, this gathering provided an opportunity to seek support from Gulf states on matters pertaining to energy security. The GCC comprises Saudi Arabia, Oman, Qatar, Bahrain, Kuwait, and the UAE, while the ASEAN bloc consists of Indonesia, Malaysia, Singapore, Thailand, Vietnam, Brunei Darussalam, Cambodia, Laos, Myanmar, and the Philippines. The current trade value between ASEAN nations stands at more than $110 billion.

MBZ Arrives in Riyadh

President His Highness Sheikh Mohamed bin Zayed Al Nahyan has arrived in the Saudi capital, Riyadh, leading the UAE delegation to participate in the joint summit of the Gulf Cooperation Council (GCC) and the Association of Southeast Asian Nations (ASEAN). The summit commenced today in the Kingdom.

Upon arrival at King Khalid International Airport in Riyadh, His Highness was received by HRH Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister of Saudi Arabia, along with other high-ranking officials.

The UAE delegation to the summit includes H.H. Sheikh Tahnoun bin Zayed Al Nahyan, Deputy Ruler of Abu Dhabi; H.H. Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs; Ali Mohammed Hammad Al Shamsi, Secretary-General of the Supreme Council for National Security; Dr. Anwar Gargash, Diplomatic Adviser to the UAE President; and Sheikh Nahyan bin Saif Al Nahyan, UAE Ambassador to the Kingdom of Saudi Arabia.

Fresh Wave of ME Protests Expected

Fresh protests against Israel’s siege of Gaza are expected across much of the Middle East on Friday as aid agencies warned hospitals in the enclave are running out of fuel amid fears life-saving aid will be still stuck in Egypt for another day.

With the humanitarian crisis in Gaza deteriorating each hour, Israeli leaders have been rallying troops preparing for a potential ground incursion and on Friday morning they issued a mandatory evacuation order to some 23,000 residents living near the border with Lebanon, CNN reported.

Israeli warplanes’ relentless bombardment has left hundreds of thousands of people homeless and sparked growing protests across the Middle East.

Egypt’s state-aligned political parties and institutions have called for nationwide protests in Egypt on Friday in support of Palestinians, a rare moment during a decade of strict anti-protest laws, CNN reported.

European Commission President Ursula von der Leyen said on Thursday that the risk of regional spillover from the Israel-Hamas war is “real”.

“We have seen the Arab streets fill with rage, all across the region… This is exactly what Hamas was hoping to achieve. And this can derail the recent and historic rapprochement between Israel and its Arab neighbours,” von der Leyen said during a speech at the Hudson Institute in Washington.

With anti-Israel protests rising across the Middle East there are fears other fronts could open up, particularly on Israel’s northern border with Lebanon where Hezbollah dominates and has increasingly clashed with Israel’s military over the last week.

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GCC Affirms Multilateral Action in Middle East Crisis

H.H. Sheikh Abdullah bin Zayed stressed the significance of collective multilateral action during the GCC Ministerial Council’s Extraordinary Session to address the ongoing Middle East crisis….reports Asian Lite News

H.H. Sheikh Abdullah bin Zayed Al Nahyan, UAE Minister of Foreign Affairs, participated in the GCC Ministerial Council’s Extraordinary Session, which convened in Muscat yesterday to discuss the latest developments in the Gaza Strip.

H.H. Sheikh Abdullah bin Zayed affirmed that the GCC Ministerial Council’s Extraordinary Session underscores the importance of collective multilateral action in addressing the current and unprecedented crisis taking place in the Middle East region. The urgent priority now is to protect civilians from the repercussions of this crisis, and to work urgently to provide safe humanitarian corridors to deliver humanitarian relief and medical aid to them, as well as enable relief organisations to perform their tasks and duties towards civilians, H.H. added.

H.H. indicated that the current crisis has confirmed beyond any doubt that extremism, violence and hatred have been and will remain the greatest threat to the security and stability of the region and the peace of its people, and this “scourge” must be confronted with all determination and work to calm the situation and end the escalating tension and violence in order to restore the security and stability of the region and revive hopes and aspirations of its people for a secure, stable and prosperous future.

Sheikh Abdullah reiterated the UAE’s longstanding and firm position in supporting the establishment of a Palestinian state with East Jerusalem as its capital.

The GCC Ministerial Council’s Extraordinary Session, which was called for at the request of Oman, the current Chairman of GCC, and after consultation and coordination with member states, aims to conduct discussions and consultations on the latest developments in the region.

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Aster Expands in with Royal Al Raffah Hospital

Located just 14 minutes away from the international airport, the hospital ensures convenient access for both local and international patients…reports Asian Lite News

Aster DM Healthcare, a leading integrated healthcare provider in GCC and India, has today launched State-of-the-Art Aster Royal Al Raffah Multispecialty Hospital. Located in Al Ghubra, Muscat, the hospital was inaugurated by His Highness Sayyid Fahar Bin Fatik Al Said in the presence of Dr. Azad Moopen – Founder Chairman and Managing Director of Aster DM Healthcare and Ms. Alisha Moopen – Deputy Managing Director of Aster DM Healthcare. This momentous occasion marks a significant milestone in bringing world-class healthcare services closer to the heart of Oman. Spanning 25,750 square meter, the hospital is a 175-bed multispecialty tertiary care facility that now stands ready to serve Oman’s 5 million population. It represents a beacon of excellence and innovation in the field of healthcare in Oman and the Middle East, offering advanced medical services and facilities.

Equipped with cutting-edge technology to deliver the highest standard of care, the facility offers a wide range of specialized centers, including a Cath-lab for Advanced Cardiac Care, Interventional Radiology Centre, Advanced Urology Centre (featuring Oman’s first Thulium Laser), Dialysis Unit with CRRT, Neurosciences Centre, Sports Medicine and Orthopedics Centre, Interventional Gastroenterology, Advanced Therapeutic Endoscopy, Minimally Invasive Surgeries and a Centre for Women and Child Health with a key focus on natural birthing, among others. Other features include Integration of digital technology, including electronic hospital management systems, electronic medical records, and a secure patient portal, aimed at enhancing patient care and streamlining medical processes. Located just 14 minutes away from the international airport, the hospital ensures convenient access for both local and international patients.

Speaking at the inauguration, Dr. Azad Moopen, Founder Chairman & Managing Director of Aster DM Healthcare, said, “Aster Royal Al Raffah Hospital in Al Ghubra, Muscat is a testament to our unwavering commitment to making world-class healthcare services available in Oman. We hope this shall help many patients from the Sultanate to avoid traveling overseas to seek advanced medical care. With our focus on many cutting-edge procedures to be done in the Aster Royal, we hope to raise the bar in healthcare excellence in the country.”

Ms. Alisha Moopen, Deputy Managing Director, Aster DM Healthcare, echoed this sentiment, saying, “Having started our journey in the Sultanate of Oman 14 years ago, Aster DM Healthcare with its 4 hospitals, 6 clinics and 6 pharmacies, is all-set to redefine clinical excellence and patient experience in the country. Aster Royal Al Raffah Hospital in Muscat is our commitment to make quality healthcare easily accessible for the people of Oman.”

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‘GCC Determined to Make COP28 Turning Point’

Albudaiwi referred to the final communique issued by the GCC Supreme Council in its 43rd session in 2022….reports Asian Lite News

Jassem Mohamed Albudaiwi, Secretary-General of the Gulf Cooperation Council (GCC), said Sunday that GCC member states are determined to continue their efforts to address climate change repercussions and make COP28 a turning point.

Addressing a meeting by GCC ministers in charge of climate affairs on the sidelines of the Middle East and North Africa (MENA) Climate Week in Riyadh,

Albudaiwi referred to the final communique issued by the GCC Supreme Council in its 43rd session in 2022.

The communique stressed the adoption of the basic pillars of energy transition and the achievements and efforts made by member states in the circular economy approach of carbon emissions reduction, reuse, recycling and removal, KUNA quoted Albudaiwi as saying.

The ministers discussed the strategies required to defend climate action to ensure secure growth and economic prosperity in the region.

They also discussed several climate issues and shared ideas and views in this regard.

‘Adaptation front and center of Climate agenda’

Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and COP28 President-Designate, delivered a formal address at the opening ceremony for MENA Climate Week today, where he called on nations in the region to expand on their legacy of climate leadership to drive inclusive progress ahead of COP28.

Regional wind and solar investments have grown over four times in the past decade, and will double again in the next five years, while the region is also the world’s leading producer of clean hydrogen, Dr. Al Jaber told delegates at the event in Riyadh.

He also cited the success of the Saudi and Middle East Green Initiative in driving investment in both mitigation and adaptation measures.

“I am filled with confidence that this region has the leadership, the vision and the capacity to shape a better future, not just for the Middle East and North Africa, but for the entire world,” the President said. “Over the course of my lifetime, I have seen first-hand the transformative abilities of our region. I have experienced our resilience in the face of global events and climate change. And I can tell you that the track record, actions and political will of the UAE leadership and the COP28 team’s determination to build a better future is absolutely unwavering.”

“With just 53 days to go before COP28, I am determined to rally the world behind an ambitious and comprehensive climate agenda,” Dr. Al Jaber declared. Ladies and Gentlemen, we have had 27 COPs, and you might be surprised to learn that 17 of them have been hosted in fossil fuel producing nations. The fact is, energy is fundamental to everyone, everywhere. And figuring out a fair, just, equitable and well managed energy transition is essential for economic and climate progress,”added Dr. Al Jaber.

The President reiterated that global renewable energy capacity needs to triple and energy efficiency double by 2030 – “and I am pleased that 85 per cent of the world’s economies, including the G20 have endorsed this goal,” he said.

On his call for oil & gas companies to align around net zero by or before 2050, zero out methane emissions, and eliminate routine flaring by 2030, he said “over 20 companies have stepped up, and I’m pushing everyone to get on board by COP28.”

“This region has the resources, the leadership and the experience to create a climate positive future of new industries, new technologies, new jobs and new hope,” the President said. “Let’s apply our capacities, our capital, our know-how and scale to deliver positive outcomes,” he added.

Following the opening ceremony, the President participated in two high-level sessions: a regional dialogue on the global stocktake, in which policymakers and other key stakeholders, discussed regional perspectives on the progress of the stocktake, and a GCC Ministerial meeting, where Dr. Al Jaber highlighted the role of COP28 in positioning the region as a climate leader and the importance of the region’s support in delivering tangible climate action.

Dr. Al Jaber also had discussions with key attendees at MENA Climate Week, including with H.R.H Prince Abdulaziz bin Salman, Saudi Arabia’s Minister of Energy, Jassem AlBudaiwi, Secretary General of the GCC, Ajay Banga, President of the World Bank, Borge Brende, President of the World Economic Forum, Jim Skea, Chair of the Intergovernmental Panel on Climate Change, Ahmad Aslam, Minister for Climate Change and Environmental Coordination of Pakistan, and Saad Nasser Al Barrak, Kuwait’s Deputy Prime Minister and Minister of Oil.

Taking place in Riyadh this week and hosted by the Government of Saudi Arabia, MENA Climate Week is one of four regional events being held this year to build momentum ahead of COP28 and the conclusion of the first global stocktake.

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GCC, US Welcome Diplomacy With Iran

The GCC Ministers and the US have underscored their support for the Treaty on the Non-Proliferation of Nuclear Weapons and renewed their call for Iran to fully cooperate with the International Atomic Energy Agency…reports Asian Lite News

The United States and the Gulf Cooperation Council (GCC) have welcomed diplomatic engagement by Saudi Arabia and other GCC states with Iran to pursue regional de-escalation and emphasized the importance of adherence to international law, including the UN Charter, by states of the region.

The US Secretary of State Antony Blinken, Foreign Ministers of the Gulf Cooperation Council member states, and the GCC Secretary General Jasem Albudaiwi met in New York on Monday.

They celebrated the strategic importance of the historic ties among the countries, as per a joint statement following the ministerial meeting of the United States and the Gulf Cooperation Council (GCC) released by the US Department of State.

During the meeting, the Ministers underscored shared commitment to build upon the achievements of previous ministerial meetings, including the most recent ministerial meeting in Riyadh on June 7, 2023, to strengthen consultation, coordination, and cooperation in all fields.

They reaffirmed their commitment to ensuring freedom of navigation and maritime security in the region and their illegal determination to deter actions at sea or elsewhere that might threaten shipping lanes, international trade, and oil installations in the GCC states.

The Ministers underscored their support for the Treaty on the Non-Proliferation of Nuclear Weapons and renewed their call for Iran to fully cooperate with the International Atomic Energy Agency.

They once again called on Iran to cease its proliferation of unmanned aerial vehicles and other dangerous weapons that pose a grave security threat to the region, as per the release by the US State Department.

Iran barred multiple International IAEA’s inspectors assigned to oversee Tehran’s atomic activities in a move described by the U.N. nuclear watchdog chief, Rafael Grossi, as “disproportionate and unprecedented.”

The GCC and the United States reiterated their commitment to work together to deter and address threats to sovereignty and territorial integrity and other destabilizing activities.

The Ministers reiterated their support for the United Arab Emirates’ call to reach a peaceful solution to the dispute over the three islands, Greater Tunb, Lesser Tunb, and Abu Musa, through bilateral negotiations or the International Court of Justice, in accordance with the rules of international law including the UN Charter.

Iran Seeks Lifting of Sanctions

Iranian President Ebrahim Raisi on Tuesday demanded an end to US sanctions against the clerical state, after a halt in talks on restoring a nuclear deal.

“These sanctions have not yielded the desired results. It is time now for the United States to bring a cessation to its wrong path and choose the right side,” he told the UN General Assembly.

Meanwhile, US President Joe Biden has ordered the unfreezing of Iran’s $6 billion of oil revenue in an effort to thaw the icy relations between the two countries over the nuclear issue even as a prisoner swap was negotiated successfully,  some of them were on a plane back to US.

The President’s deal comes ahead of a UN meeting here where Biden and Iran’s hardliner president will both speak, unfolding as it does, against a backdrop of nuclear tensions between the two countries.

Five Americans imprisoned in Iran were on a plane Monday along with two family members after being released in a prisoner exchange the Biden administration negotiated with Tehran, media reports said.

As part of the deal, $6 billion in frozen Iranian oil revenues was released by the Biden administration and five Iranians charged or convicted of non-violent crimes were freed by the US, according to US officials.

The exchange is in no way tied to the stalled nuclear talks between the US and Iran, but does come as a move to defuse the increasing tensions that periodically threaten a military confrontation. 

ALSO READ-US releases $6bn of Iran’s oil revenues ahead of UN meet

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US, GCC welcome diplomatic engagement by Saudi Arabia

The Ministers underscored their support for the Treaty on the Non-Proliferation of Nuclear Weapons and renewed their call for Iran to fully cooperate with the International Atomic Energy Agency…reports Asian Lite News

The United States and the Gulf Cooperation Council (GCC) have welcomed diplomatic engagement by Saudi Arabia and other GCC states with Iran to pursue regional de-escalation and emphasized the importance of adherence to international law, including the UN Charter, by states of the region. Secretary of State Antony Blinken, Foreign Ministers of the Gulf Cooperation Council member states, and the GCC Secretary General Jasem Albudaiwi met in New York on Monday.

They celebrated the strategic importance of the historic ties among the countries, as per a joint statement following the ministerial meeting of the United States and the Gulf Cooperation Council (GCC) released by the US Department of State.

During the meeting, the Ministers underscored shared commitment to build upon the achievements of previous ministerial meetings, including the most recent ministerial meeting in Riyadh on June 7, 2023, to strengthen consultation, coordination, and cooperation in all fields.They reaffirmed their commitment to ensuring freedom of navigation and maritime security in the region and their illegal determination to deter actions at sea or elsewhere that might threaten shipping lanes, international trade, and oil installations in the GCC states.

The Ministers underscored their support for the Treaty on the Non-Proliferation of Nuclear Weapons and renewed their call for Iran to fully cooperate with the International Atomic Energy Agency. They once again called on Iran to cease its proliferation of unmanned aerial vehicles and other dangerous weapons that pose a grave security threat to the region, as per the release by the US State Department.The GCC and the United States reiterated their commitment to work together to deter and address threats to sovereignty and territorial integrity and other destabilizing activities.The Ministers reiterated their support for the United Arab Emirates’ call to reach a peaceful solution to the dispute over the three islands, Greater Tunb, Lesser Tunb, and Abu Musa, through bilateral negotiations or the International Court of Justice, in accordance with the rules of international law including the UN Charter. (ANI)

ALSO READ- GCC, US Welcome Diplomacy With Iran