DUBAI, July 10. /TASS/. Russia and the member-states of the Gulf Cooperation Council (GCC) underscored the importance of joint efforts as part of the OPEC+ agreement in order to stabilize the global oil market, according to the joint statement released by the GCC Secretariat after the ministers meeting within the framework of the Russia - GCC strategic dialogue.

"The parties gave a high estimate to the efforts made by countries participating in the OPEC+ agreement, which contributed to the stabilization of the global oil market," the statement reads. The ministers also agreed with the need to continue cooperation within the OPEC+ framework.

Russia and GCC member-states have agreed to work on increasing the trade turnover and developing energy supply chains. "The parties agreed to work on creating suitable conditions to increase the trade turnover and investment, and develop energy supply chains by way of encouraging interaction among private sector representatives for the purpose of taking advantage of investment opportunities in GCC countries and Russia," according to the statement.