A unified Arab Gulf Cooperation Council food storage project is most likely to be deferred indefinitely as each member of the bloc has been focusing on its food security independently, an official says.
The strategic venture was set to be established in Oman and act as a pan-GCC food storage facility, but all members have devised their own food security policy according to their priorities, Al-Eqtisadiah quotes an official from the
GCC chambers federation as saying.
However, the official denied that the unrest in Yemen, Oman’s neighbour, has led to rethinking the venture. On the contrary, Yemen could act as a major gateway to secure food supplies.
Once the crisis in Yemen is over, member states of the six-nation grouping will pursue the launch of strategic agricultural projects in the Arab country.
The official noted that a major conference will be held in the Arab Organisation for Agricultural Development in October to attract GCC investments to the agricultural sector.
He added that the gathering is set to discuss pan-Arab food security in general and the role of the GCC investments to serve this goal.