AGCC approves Monetary Union Agreement, Basic Statute of Monetary Council

Muscat summit values Saudi King’s efforts to hold World Conference on Dialogue

Sultan Qaboos calls for establishing mechanism to stabilize oil prices to overcome global financial crisis

29th AGCC summit final communiqué, Muscat declaration

Efforts underway to stop aggression on Gaza, says Oman’s FM

Leaders of the Arab Gulf Cooperation Council (AGCC) states concluded deliberations of their 29th summit at Al Bustan Palace Hotel under the chairmanship of His Majesty Sultan Qaboos bin Said.

At the conclusion of the summit His Majesty the Sultan delivered a Royal speech, following is the text of the speech:

In the name of God, the Compassionate, the Merciful

We thank the Almighty God for his bounties and for what he has ordained for us, and may blessings and peace be upon His Prophet, his Family and his Companions.

My Brothers, Their Majesties and Highnesses, Leaders of the Gulf Cooperation Council, His Excellency the Secretary-General, Their Highnesses and Excellencies, members of the delegations.

It gives us pleasure at the conclusion of the 29th session of the Supreme Council to convey to you our utmost happiness in welcoming and meeting you. Since it is our common desire to achieve more hope and aspirations for our peoples, we also express our great appreciation for the brotherly spirit that has prevailed during the workings of this Summit.

My Brothers, Their Majesties and Their Highnesses, Leaders of the Arab Gulf Cooperation Council, His Excellency the Secretary-General, Their Highnesses and Excellencies, members of the delegations.

We extend our thanks and appreciation, and pray to God to protect you wherever you are, wishing you a blessed and safe return to your homeland. We pray to God that we will meet again at the next Summit - with God's assistance - in the state of Kuwait as guests of our brother, His Highness Sheikh Sabah al Ahmed al Jabir al Sabah and his generous people.

We conclude by thanking Their Highnesses and Excellencies, members of delegations, His Excellency the Secretary-General, his aides and staff of the Secretariat-General for their continuous efforts which have contributed to the success - praise be to God - of this session.

We pray to God to grant us all success and guide our steps, and may God's peace and mercy be upon you.

After that, Sheikh Sabah al Ahmed al Jabir al Sabah, Emir of the State of Kuwait delivered a speech in which he welcomed the AGCC leaders to host their next Summit in Kuwait appealing to Allah to support them in their endeavors to serve the interests of their peoples.

On behalf of the AGCC leaders and himself, Sheikh Sabah expressed thanks and appreciation for His Majesty the Sultan’s management of the proceedings of this Summit which contributed to reaching these results to achieve the hopes and aspirations of the AGCC peoples towards more growth and prosperity.

Sheikh Sabah also praised the good preparation and organization for this blessed meeting and expressed the AGCC leaders’ thanks and appreciation to His Majesty the Sultan and the Omani people for the warm welcome and generous hospitality extended to them.

His Majesty Sultan Qaboos bin Said called for establishing a mechanism to stabilize oil prices in order to overcome the global financial crisis. "There is a need to establish a mechanism for stability in oil prices, in a way that does not burden the consumer... and not harm the producing countries, while it allows their development plans to continue," His Majesty said.

Oil prices hit a record high in July reaching $147 per barrel, but have tumbled since because of the global financial crisis to around $40, cutting revenues for oil producers by more than two thirds.

Their Majesties and Highnesses AGCC states leaders, had begun deliberations of the 29th session of the AGCC Supreme Council meeting, at Al Bustan Palace hotel in Muscat, this evening, under the chairmanship of His Majesty Sultan Qaboos bin Said.

His Majesty the Sultan welcomed their Majesties and Highnesses AGCC states leaders in their homeland, the Sultanate of Oman, praying to Allah the Almighty to guide the AGCC leaders to achieve more benefits and prosperity for all of them. His Majesty thanked Allah the Almighty for the achievements made so far during the blessed march of the Gulf Cooperation Council in various fields.

His Majesty has emphasized determination - with God’s assistance and guidance - to preserve the achievements made for the AGCC states and citizens and work for implementation of more strategic comprehensive development programs.

His Majesty the Sultan spoke about the global financial crisis, underlining the importance to working with the international concerned parties to tackle and correct this situation in order to restore the economic and social programs and guarantee the continuation of the international trade and cooperation among nations.

At the end of his speech, His Majesty commended the efforts exerted by Sheikh Hamad bin Khalifa al Thani, Emir of Qatar, in successfully steering the work of the previous session, and following up the implementation of its resolutions and the decisions of the Ministerial Committees during the period of his chairmanship.

leaders of the Arab Gulf Cooperation Council states concluded their 1st closed-door working session at Al Bustan Palace hotel in Muscat under the chairmanship of His Majesty Sultan Qaboos bin Said.

During the session, their Majesties and Highnesses were briefed by Abdul Rahman bin Hamad al Attiyah, AGCC Secretary-General on the council’s work progress during the previous session and reports of the various ministerial committees and their work progress.

The AGCC leaders issued the Final Communiqué, on the conclusion of their 29th Summit in Muscat, text of which is as follows :

"Upon the kind invitation by His Majesty Sultan Qaboos bin Said, Sultan of Oman, the AGCC Supreme Council held its 29th Session in Muscat, Sultanate of Oman on Monday and Tuesday, 1st & 2nd Muharram 1430 AH corresponding to Dec 29th and 30th 2008 under the chairmanship of His Majesty Sultan Qaboos bin Said, Sultan of Oman, Chairman of the current session of the Supreme Council in the presence of Their Majesties and Highnesses : Sheikh Khalifa bin Zayed al Nahyan, President of the United Arab Emirates (UAE), King Hamad bin Issa al Khalifa, of the Kingdom of Bahrain, the Custodian of the Two Holy Mosques, King Abdullah bin Abdulaziz al Saud, of the Kingdom of Saudi Arabia, Sheikh Hamad bin Khalifa al Thani, Emir of Qatar, Sheikh Sabah al Ahmad al Jabir al Sabah, Emir of Kuwait.

His Excellency, Abdul Rahman bin Hamad al Attiyah, AGCC Secretary-General also took part in the meeting.

The Council congratulated His Majesty Sultan Qaboos bin Said, Sultan of Oman, for presiding over the current session of the Supreme Council, hailing the contents and the sound vision included in His Majesty’s royal speech and his keenness to activate the march of cooperation among the AGCC states in all fields, extending and developing it to a wider and stronger horizons in the forthcoming period, God’s willing.

The Council expressed its appreciation for the great efforts exerted by the State of Qatar, led by His Highness Sheikh Hamad bin Khalifa al Thani, Emir of Qatar, during his chairmanship of the AGCC Supreme Council’s last session and for his support for march of joint cooperation in various fields.

The Supreme Council has also welcomed the setting of the Joint Saudi-Qatari Co-ordination Council which reflects the great keenness accorded by the Custodian of the Two Holy Mosques, King Abdullah bin Abdulaziz al Saud, of Saudi Arabia, and His Highness Sheikh Hamad bin Khalifa al Thani, Emir of Qatar to consolidate the relations between the two brotherly countries and developing them in various spheres.

The Council also hailed the agreements reached at the first meeting of the joint Co-ordination Council aimed at enhancing fruitful co-operation between the two countries in economic, trade, industrial, political, security, military, environmental, health, cultural and media fields.

The Supreme Council also valued the great efforts exerted by the Custodian of the Two Holy Mosques, King Abdullah bin Abdulaziz al Saud of Saudi Arabia for convening - the World Conference on Dialogue - in Madrid, so as to promote dialogue among religions, cultures and the noble meanings meant by them. It also valued the generous initiative to convene a Dialogue Conference among followers of religions and cultures in a high caliber meeting held at the United Nations General Assembly which had received the world’s good response, support and interaction. The initiative was aimed at highlighting the importance of dialogue, respect of humanity, establishing bonds and relations among nations and civilizations, consolidating human and religious joint values and correct the faulted conceptions aimed at degrading the Islamic values.

The Supreme Council has also welcomed the convening of the Arab Economic, Developmental and Social Summit in the State of Kuwait. It stressed the economic and developmental dimension of the Summit in enhancing the Inter-Arab relations and activating the Arab joint action.

The Supreme Council also congratulated President Michael Suleiman of the Lebanese Republic on his election as President of brotherly Lebanon, and for the reconciliation and agreement, which have been achieved in all spheres in accordance with the framework of "Doha Accord" and the restoration of diplomatic relations between the two brotherly countries, Syria and Lebanon. The Communiqué stated that the Supreme Council is looking forward to continue dialogue among the Lebanese brothers to achieve all that could enhance security, stability and prosperity for the brotherly Lebanese people.

The Supreme Council also congratulated the US President-Elect Barack Obama on winning the American Presidential Elections as president of the United States of America wishing him all success. The Supreme Council is looking forward that his presidential term would be marked by a new security and prosperity for the American friendly people and contributes to achieving security and peace in the whole world.

The Supreme Council studied the Global Financial Crisis and its economic impacts, and directed the specialized Ministerial Committees to intensify coordination among member states and take relevant measures to reduce its negative impacts on the AGCC states economies.

The Supreme Council also directed the concerned ministerial committee to do all that would contribute in stabilizing the oil prices in a manner that achieves balanced and joint interests of the producing and consuming countries.

The Supreme Council also reviewed recommendations and follow up reports submitted by the Ministerial Council and the achievements that have been made in the joint action march since Supreme Council’s last session in various spheres. The Supreme Councils has also discussed the regional and international political, security and economic issues on the rapid events and developments being witnessed in the region and the world and took appropriate resolutions in their regard as follows :

Firstly : In Joint Cooperation fields

In Economic field :

The Supreme Council has viewed the submitted reports on implementation of the Custodian of the Two Holy Mosques’ proposal as to streamline performance and remove barriers that face the joint action progress and approved proposed solutions in the economic fields. It directed the concerned authorities and committees operating within the AGCC framework to eliminate such barriers not later than end of September 2009 in order to enhance economic integration and strengthening economic citizenship among the AGCC citizens. It has also approved a mechanism to implement the Supreme Council’s resolutions.

As to consolidate economic integration among the AGCC states, complete its stages, implement the timetables for setting up the Monetary Union, and launching the single currency as approved by the Supreme Council at Muscat Summit in December 2001.

The Council also approved the Monetary Union Agreement, which covers the legislative and institutional frameworks. It has also approved the Basic Statue of the Monetary Council, calling for quick approval of the agreement, so as to establish the Monetary Council which will undertake working out the technical requirements for the Monetary Union, in a bid to establish the Central Bank and launching of the single Currency.

The Council has also reviewed work progress made in the AGCC Common Market, approved the market’s document which includes it’s principles, requirements, objectives and implementation mechanisms and resolutions taken in its regard. It stressed on the importance for its implementation in a manner that achieves maximum benefit for the AGCC states and citizens.

The Supreme Council also discussed the march of economic integration among the AGCC states through the follow up report submitted to it regarding the work progress made in the Customs Union, the Common Market, the Monetary Union and the long term comprehensive Development strategy 2000-2025, the water link project between the AGCC states, the AGCC railway project and study of its economic feasibility, the Smart Card and its usage to facilitate movement of the AGCC citizens.

It also discussed continuity of the systems at member states, the Supreme Council approved Seeds, Fertilizers and Saplings Law to be compulsory.

Under the blessed march led by His Majesty, King Hamad bin Issa al Khalifa, of the Kingdom of Bahrain, the Council appreciated the economic vision of the kingdom of Bahrain which sets long term scenarios for future trends of its national economy till the year 2030 and hopes that this integrated economic program would modernize the Bahraini economy, increase productivity, innovation, economic, social and cultural growth and world competitiveness as part of enhancing the joint economic, social and cultural work among the AGCC states.

As with regard to negotiations with countries and economic blocs, the Supreme Council has welcomed the signing of the Free Trade Agreement (FTA) between the AGCC states and Singapore hoping that negotiations would be over in order to establish FTA with friendly countries and blocs and sign these agreements as soon as possible.

The Supreme Council expressed its regret to the EU for not responding with the AGCC states’ proposal to strike an FTA between them, the thing that have led to suspension of such negotiations by the AGCC member states.

With regard to security co-ordination and co-operation :

The Supreme Council has expressed its satisfaction with the security cooperation and coordination among the member states, approved the AGCC states’ comprehensive security strategy after its modernization.

The Supreme Council, has also approved the Basic Statue of the AGCC Anti-Drugs Criminal Information Centre due to be established in Qatar.

With regard to combating Terrorism and Piracy:

The Supreme Council has underlined the AGCC states’ clear stands, which denounce all kinds and sources of terrorism.

In this regard, the Supreme Council, hailed efficiency and capabilities of Bahrain’s security service and the impressive preventive security operation it made which had foiled a criminal terrorist attacks aimed at targeting stability of Bahrain and peace and security of its citizens. The Council emphasized its support for Bahrain for the whole measures it takes to maintain security, stability and the wellbeing of Bahrain.

It called for enhancing the international cooperation in combating terrorism, by sharing information, not to allow using other countries’ territories to mastermind, and encourage committing terrorist activities, cooperate to hand over elements involved in terrorist activities.

The Council has voiced concern over increased piracy operations in the international water passages at the Gulf of Aden, and the Red Sea by irresponsible Somali elements. It called for establishing regional and international cooperation and coordination to fight and eliminate such activities as per the UN Security Council’s resolution No. 1851 issued on Dec 16, 2008.

In the field of military affairs, the Council reviewed what has been submitted by the Joint Defense Council on the development of Joint Peninsula Shield Forces in accordance with the resolutions taken by the Supreme Council at its previous sessions. The Council also reviewed the coordination and cooperating among the AGCC countries, as well as, everything that may contribute and develop the joint defense among the member countries. The Supreme Council blessed the achievements and directed to complete the steps and measures in this respect.

In the field of human and environment affairs, the Supreme Council discussed a number of joint action in the field of human and the environment. It approved the proposals to implement work programs that increase the number of job opportunities for the national manpower.

It also approved the cultural strategy for the member countries and stressed drafting the programs and executive activities for its items.

The Supreme Council also approved the following systems:

1. The Guidance Manual for Construction Business and System Unit.

2. The Guidance Manual for Safeguarding the Architectural Design.

3. The Guidance System for Archeology.

The Supreme Council welcomed the content of H.M. King Hamad bin Issa al Khalifa of the Kingdom of Bahrain's speech on the occasion of the Accession Day and National Day about initiating a law on family affairs as this stresses the care provided for the Gulf woman and the role she plays in society development.

In the field of media cooperation:

The Supreme Council reviewed the media cooperation among the AGCC countries and expressed its satisfaction over what has been achieved in terms of media joint work.

The Supreme Council also reviewed the steps taken to follow up the resolutions taken by the Supreme Council on the initiative included in the letter addressed to H.H. Sheikh Hamad bin Khalifa al Thani, Emir of the State of Qatar, Chairman of the 28th AGCC Summit, the recommendations on the Satellites forum, Value and Ethics Challenges Facing the Gulf Youths. It expressed its appreciation for the efforts exerted by the Supreme Council for Family Affairs in Qatar to organize the forum. The Supreme Council decided to refer the outcome of the forum to the respective organizations in the member countries.

In the field of the AGCC Consultative Authority work of the Supreme Council, the Supreme Council reviewed the visions of the Consultative Authority on inflation, price hike and their impact on the AGCC nationals and economies. It also reviewed the problem of job seekers, its reasons, impacts and means of resolving it. The Council approved and it referred to the respective ministerial committees to put the required mechanisms for their implementation.

The Supreme Council also delegated the Consultative Authority with the task of studying the following topics:

1. The global financial crisis and its impact on the AGCC countries, as well as, the measures that may be taken.

2. Food and water security for the AGCC countries.

The Supreme Council also hailed the efforts undertaken by the Supreme Council's Consultative Authority and the constructive visions raised to the Supreme Council to enhance the blessed cooperation march in all domains.

The Supreme Council also blessed the outcome of the routine meeting for chairmen of the AGCC Shura, Representatives, National and Umma councils and hailed the efforts undertaken by these Councils, as well as, the visions raised by them to the Supreme Council with the aim of enhancing the joint work, stability and welfare for the AGCC states and peoples.

In the field of cooperation with the Yemeni Republic, the Supreme Council reviewed the cooperation tracks in the field of development projects and the success that has been made in 2008.

It hailed the growing cooperation between the AGCC countries and the sisterly Yemen Republic. It approved the membership of the Yemeni Republic at the AGCC Standardization Authority and Gulf Organization for Industrial Consultancy, the AGCC Auditing Authority and Gulf Radio and TV.

The Supreme Council has taken the legal and administrative measures in this regard to ensure that Yemen has the same rights and obligations in these organizations as it is the case with AGCC countries.

Second : The political side :

The Palestinian Issue and ME Peace Process:

The leaders reviewed the current painful events in Gaza strips, as well as, the destruction inflicted by the Israeli killing military Machine without giving any human considerations or international legitimacy laws.

The AGCC leaders decided to initiate urgent communications with UN Security Council's Permanent Members to urge the international community to shoulder its responsibilities.

The Council expressed its grave concern and utmost dissatisfaction for the blatant Israeli aggression against the Palestinian people and which resulted in the large number of deaths and injuries, as well as, the destruction of properties and terrifying of innocents without any deterrence by consciousness or observation of any moral principles or human considerations or the international legitimacy laws.

The Supreme Council strongly condemned this Israeli outrageous aggression and held it largely responsible for pushing matters to this grave level by its obstinate policies and inhuman practices against the Palestinian people.

The Council requested Israel to stop showing power and torturing Palestinian unarmed people, lift the unfair blockage on all the Palestinian lands especially Gaza strip.

It also called upon the International Community to bear its full responsibilities and immediately move to halt the massacres and assaults by the Israeli killing machine, as well as, providing the Palestinian people with the required protection.

The Council also affirmed that the Palestinian unity is the fortification and shield that protect the Palestinian people. It called upon all Palestinian factions to rally their ranks and have a single stance at such critical stage experienced by the Palestinian cause to secure the unity of its lands, restore its legitimate rights and establish its independent state with East Jerusalem as its capital.

The Supreme Council also reviewed the deterioration of the Middle East peace process due to Israel's continuation in imposing a suffocating siege on the Palestinian people especially in Gaza strip, its challenge for the international legitimacy resolutions, expansion in building settlements, swallowing more lands by building the Separation Wall and going ahead with digging works which threatens Al Aqsa Mosque and change of the Arab and Islamic identity of Al Quds.

The Supreme Council emphasized the importance of the Israeli withdrawal from the occupied Arab territories, including the Syrian Golan Heights, to the June 4th border line, and a further withdrawal from the remaining occupied lands in South Lebanon as per the Security Council's Resolutions No. 425 and 426.

The Supreme Council voiced its hope that the U.S. President Elect, Barack Obama will attach the Palestinian Issue and Middle East Peace Process top priority in the U.S. foreign policy to fulfill the commitments and promises towards establishing an independent viable Palestinian State that can live in peace and security side by side with Israel.

They also hoped that he could bring permanent, just and comprehensive peace to the Middle East.

The Supreme Council affirmed the content of the speech of Prince Saud al Faisal, Current Chairman of the Arab League Ministerial Council and Amr Moussa, Arab League Secretary General which highlighted the Arab stance towards the developments of the Arab-Israeli conflict.

The Supreme Council also reiterated the readiness of Arabs to establish permanent, just and comprehensive peace on the basis of land for peace principle, the international legitimacy resolutions and the Middle East peace initiatives and its requirements.

HH Sheikh Hamad bin Khalifa al Thani, Emir of the State of Qatar and Chairman of the 28th AGCC Supreme Council's Summit has briefed AGCC leaders on the last visit by him to the Islamic Republic of Iran which affirmed the constructive dialogue that build confidence and enhance relations between the AGCC countries and Iran in all fields in a way that serve the security and stability in the region.

On the issue of the Islamic Republic of Iran's continued occupation of the UAE's three Islands, the council reaffirmed the UAE's right to regain the islands of Greater and Lesser Tunbs and Abu Musa and their continental shelves, territorial waters and the pure economic zone as an integral part of the U.A.E.

It also expressed regret at failure to reach positive results with the Islamic Republic of Iran to settle the issue of the three islands which contribute to enhancing the stability and security of the region. It also looked in all peaceful means that may lead to restore the U.A.E right in its three Islands. It also urged the Islamic Republic of Iran to show positive response to initiatives taken by the U.A.E to resolve the issue through direct negotiations or revert to the court.

On Iran's nuclear file, the Supreme Council stressed the importance of abiding by the international legitimacy principles and renewed its stance, which calls for solving this crisis through diplomatic means.

The Supreme Council welcomed the negotiations between Islamic Republic of Iran and the Western countries and hoped that a diplomatic settlement may be reached to enhance the regional and international stability.

It also reiterated its demand to make the Middle East region, including the Gulf region, free from all weapons of mass destruction, while acknowledging the right of the region's countries to seek nuclear expertise and possess nuclear energy for peaceful purposes based on the relevant international agreements.

On Iraq affair, the council stressed the necessity to respect sovereignty, territorial unity and independence of Iraq, protect its Arab and Islamic identity, and not to interfere in its internal affairs.

It also stressed that the realization of peace and stability requires expediting in achieving Iraqi national reconciliation to ensure the success of the comprehensive political process which should involve all the Iraqis without exceptions or discrimination.

It also urged the UN and other respective bodies to continue their efforts to restore the national archive of Kuwait and know the destiny of the remainder of captives and those unaccounted for from Kuwait and other nationalities.

On the Lebanese affair, the Council welcomed Lebanon's entrance of a new political stage to complete the terms of Doha Agreement which was reached under the patronage of HH Sheikh Hamad bin Khalifa al Thani, Emir of the State of Qatar.

It also welcomed the preparatory measures to conduct public parliamentary election next year. The Supreme Council also hailed the achievements made by the political leadership and all the Lebanese parties to address the security situation in Lebanon, the thing which provided a positive environment for dialogue and reconciliation among the Lebanese brothers and restoration of stability and welfare to the brotherly Lebanon.

In this connection, the Council welcomed the historic step taken by both Syria and Lebanon to establish diplomatic relations between the two brotherly countries.

On the Darfur affairs, the Supreme Council voiced concern over the ongoing human suffering in Darfur, and praised the efforts of the Sudanese government and its cooperation with the international community to put an end to the Darfur problem.

The Council expressed its solidarity with the Republic of Sudan in not accepting the Non-balanced stance of the International Criminal Court. In this connection, the Supreme Council hailed the efforts undertaken by the Arab and African Ministerial Committee under the chairmanship of state of Qatar to prepare for and host the peace talks between the Sudanese government and the armed movements which is scheduled to take place in Qatar. The Council is looking forward to the success of these negotiations and achieving the prospective Sudanese reconciliation.

On Somalia affair, the Supreme Council expressed deep regret at the deteriorating situation in Somalia and reiterated its call to all parties to stop violence and abandon all operations that hinder the efforts to achieve national reconciliation. In this context, the Council affirmed its support for the agreement which has been reached in Djibouti on June 9th 2008 and urged all Somali parties to abide by the Jeddah agreement which was reached under the patronage of the Custodian of the Two Holy Mosques, King Abdullah bin Abdulaziz, which aimed at putting and end to the human suffering and provide the Somali brotherly people with peace, stability and welfare.

The Council expressed its deep appreciation for the great and sincere efforts exerted by HH Sheikh Hamad bin Khalifa al Thani, Emir of Qatar and the Chairman of the previous AGCC Supreme Council‘s Summit and his wise government for their keenness and follow up of the implementation of the Supreme Council’s resolutions.

It also expressed deep appreciation for the steps and impressive achievements made which have pushed the joint cooperation march to more developed stages, wider scopes and towards further progress and prosperity for the AGCC countries peoples.

At the end, the Supreme Council expressed its deep appreciation for His Majesty Sultan Qaboos bin Said, the Sultan of Oman and Chairman of the current session of the Supreme Council, his wise government and the people of Oman for the warm welcome and generous hospitality and sincere brotherly feelings that have been extended to GCC leaders.

The AGCC leaders also pointed out to the great attention and wise management by His Majesty Sultan Qaboos bin Said which had great impact in reaching important outcomes and resolutions.

They also voiced their confidence that the Sultanate of Oman, through its chairmanship of this current session, will push forward the AGCC‘s blessed march towards more achievements and wider scopes in light of the accelerating local, regional and international developments and in a way that maintain the security, stability and welfare for the AGCC peoples and the region.

The Supreme Council welcomed the invitation by HH Sheikh Sabah al Ahmed al Sabah, Emir of the State of Kuwait, to hold the 30th session in Kuwait in 2009.

Leaders of the AGCC states have issued Muscat Declaration, following is the text of the Declaration:

On the occasion of the twenty ninth session of the Supreme Council of the Arab Gulf Cooperation Council, held in Muscat on Monday and Tuesday 1st-2nd Muharram 1430 Hijri, corresponding to 29th-30th December 2008, and in the context of the achievements witnessed in different areas, under the wise leadership of Their Majesties and Highnesses the leaders of Member States of the Council states.

The Sultanate of Oman expresses its appreciation of the steps undertaken by Member States in accordance with the decisions of the Supreme Council, which aim to consolidate relations between them in various fields, and strengthening the mutual ties among their peoples, in harmony with the noble principles and objectives of the basic charter of the Arab Gulf Cooperation Council.

In view of the accelerated changes and various developments taking place in the world, and the subsequent effects on all States, there comes a need to exert further efforts in order to preserve the gains achieved by the Council, and deal with new developments in a manner that will allow Member States to continue their work in developing their individual capacities, through the application of knowledge and state of the art technologies, including intensifying efforts to develop their human resources and scientific research.

This will enable Member States to transform into knowledge based economies, achieve sustainable economic and social development, prepare and enhance the climate for investment with a competitive edge and participate in the world economy on a solid and stable footing.

The Sultanate of Oman confirms its interest in conserving the environment.

In view of events, which have taken place in the world over the last years, namely climate change and its various effects upon many parts of the Globe, Member States are requested today, more than anytime before, to develop forecasting methods and strengthen their collaboration, so as to contribute towards dealing with such circumstances more constructively, on the bases of the "General Policies and Principles for Environment Protection" which had been adopted by the Supreme Council in its sixth session (Muscat, November 1985).

In this respect, the Sultanate praises the decision of the GCC Ministers Responsible for Environmental Affairs, in granting a periodical award in the name of the Arab Gulf Cooperation Council for outstanding environmental activities. The award aims to raise the level of environmental understanding and awareness among the peoples of the region, and to encourage individuals and institutions to research, create, and innovate in order to devise suitable solutions for contemporary environmental issues.

In recognition of the joint efforts made in the Gulf on environmental issues, giving further incentives for generating more interest and productivity in this area, His Majesty Sultan Qaboos bin Said, the Sultan of Oman, has endowed an award for the Human Affairs and Environmental Sector, which represents a common link between Member States and their peoples.

Direct support for important scientific research aims at developing effective plans and policies for preserving clean and safe environment, while taking into consideration natural trends of climate cycles through centuries.

May Allah grant us success

The Israeli assault on Gaza dominated even the press conference addressed by Yousuf bin Alawi bin Abdullah, minister responsible for foreign affairs, and Abdulrahman bin Hamad Al Attiyah, AGCC secretary-general, who admitted that the AGCC summit’s "attention was focused on the developments on the Gaza Strip."

The press conference was held at the Media Centre set up at Hotel Inter-Continental after the conclusion of the AGCC Summit attended by the AGCC leaders.

As reporters kept the barrage of questions focused on the Palestinian issue, Alawi admitted, "Their majesties have discussed in a very detailed manner what has happened in the Gaza Strip. They condemned Israel’s unjustified aggression and its inhumane actions against the Palestinians in Gaza."

"The attacks on Hamas-ruled Gaza dominated a good deal of the discussions," said Attiyah.

He also said: "All the leaders called for an end to the Israeli aggression on Gaza. The leaders called for making urgent contacts with the United Nations Security Council to stop this aggression."

Alawi also informed the media that he would be heading for an extraordinary Arab League foreign ministers’ meeting in Cairo tomorrow to discuss the Gaza issue.

Oman will also attend the emergency meeting of the leaders of the 22-member group in Qatar.

Alawi said: "All Arabs will speak in one voice and that will reflect in the summit."

"We support Egypt and hail its role and efforts to ensure peace in Palestine," he added.

Responding to the future relationship between the AGCC and the US administration, Attiyah said: "The AGCC leaders welcomed the election of Barack Obama as president of the United States of America. The Supreme Council is looking forward to his presidential term and hope it would be marked by a new security and prosperity for the friendly American people and would contribute to achieving security and peace in the whole world."

Stating that the United States is an important country for all countries dealing with international issues, Alawi said: "Arab leaders have authorized Arab League to speak to Obama." Attiyah said the leaders had endorsed an agreement to set up a long-sought-after monetary union that would come into effect before the end of 2009.

"The leaders also discussed moving ahead with plans for a unified currency by 2010, setting up a regional central bank and ways of dealing with the global economic crisis. The council also agreed on the proposed regional central bank, but had yet to decide on the location, which might be decided by the end of the year," Attiyah said.

He also said that it had been decided that specialized ministerial committees would intensify coordination among the member states and take relevant measures to reduce its negative impacts on the economies of the AGCC states.

"The leaders called for cooperation between all nations to overcome the impact of the international financial crisis, and stressed the need to balance the needs of oil producers and consumers," he informed.

To a question on whether a five-year cap on expatriate unskilled workers had been endorsed at the summit, Attiyah said: "The issue was discussed and a joint policy has been adopted to deal with the workforce issue. However, it is subject to more discussions by the AGCC countries. It must also be understood that the number of expatriates increases and decreases according to the development projects taking place in each of the countries. So it is also subject to the needs of the country concerned."

With regard to combating terrorism and piracy, Attiyah said: "The AGCC denounces all kinds and sources of terrorism. The leaders hailed the efficiency and capabilities of Bahrain’s security service and the impressive preventive security operation it made, which had foiled a criminal terrorist attack aimed at targeting the stability of Bahrain and peace and security of its citizens."

Talking about the AGCC countries’ relationship with Iran, Alawi said: "They are close neighbors and we cannot ignore them." Attiyah also said that the nuclear program had been discussed. "They decided it was going ahead as planned and decisions were being taken in accordance with the International Atomic Energy Agency," he said.

Attiyah also said that the Supreme Council had approved the basic statute of the AGCC anti-drugs criminal information centre due to be established in Doha.