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GCC states urged to approve farm project strategy

Gulf oil producers need to quickly approve a strategy for farming projects to offset food import disruptions due to international supply chain problems, the region’s federation of chambers of commerce and industry said on Tuesday.

The six Gulf Cooperation Council (GCC) countries, which control over 40 percent of the world’s recoverable oil resources, have invested nearly $3.8 billion in farming technologies but this is not enough to achieve the aspired food security, the Federation’s Chairman Sheikh Faisal Al-Rawas said in a statement sent to Zawya Projects from its Dammam headquarters.

Rawas said the added value of the GCC farming and fishing sector has steadily grown over the past years to peak at $30.5 billion while its contribution to alliance’s GDP stood at around 1.8 percent in 2022.

Link: https://www.zawya.com/en/projects/industry/gcc-states-urged-to-approve-farm-project-strategy-lwvd4d0u

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