Saudi prince says GCC could make world's 6th largest economy

Saudi Deputy Crown Prince Mohammed bin Salman bin Abdulaziz said that Gulf Cooperation Council (GCC) states have an opportunity to be the sixth largest economy in the world as one bloc, Saudi Press Agency reported on Thursday.

He made the remarks in a speech at the opening ceremony of the first meeting of the GCC Economic and Development Affairs Authority held here Thursday.

He stressed the necessity for GCC states to take the opportunities and work together "in the era of blocs" amid global economic fluctuations.

The statement came while his country is making major economic reforms to become oil-independent by 2020 in the post oil era, as the oil prices are plunging in the international markets.