Indeed, the SDDS is a global benchmark for disseminating macroeconomic data to the public. So far 64 countries have subscribed to the SDDS. BIS Review 170/2010  1  The GDDS, on the other hand, was launched in 1997 for member countries with less developed statistical systems. This system gives member countries a basic framework for a broader national statistical development strategy, addresses the full range of issues critical for compiling and disseminating data, and makes explicit plans for improvement to align national procedures with best practices. Until now, the number of participating countries in GDDS is 106. Both standards share several common features, and have successfully contributed to enhancing the range, quality, and timeliness of country data available to the public. They have also been instrumental in providing better information to underpin the operations of international financial markets and economic policy assessments in general, and thus facilitating public and private decision making. May countries that have participated in GDDS be able to eventually join the club of the SDDS. This is what Saudi Arabia has planned for. Dear Participants, This 5-day workshop is to expand on many data-related issues and standards, including the ones that I have just talked about. Some of the important topics which would be covered over the next five days include: 1. IMF's key data dissemination initiatives  2. Essentials of SDDS and its subscription  3. Essentials of standardized report forms  4. Development details of statistical bulletin tables proposed by the GCC monetary union.
This workshop will provide an opportunity for all GCC organizations in the statistical community to share national experiences, and lead discussions to identify areas for mutual cooperation for further improvement in data production and presentation. I may emphasize here that timely availability of reliable and mutually consistent national data would be of great help to the GCC Monetary Council in its task of preparing for the achievement of the ultimate goal of GCC Monetary Union. It will also provide the basis for judicious policy formulations even after the establishment of the Monetary Union for the region. I therefore urge you all, to actively engage in workshop discussions to fully understand these matters, come to useful conclusions and make your deliberations fruitful. Dear Participants I hope that by the end of the workshop you will have achieved at least the following two objectives: 1. Sufficient statistical insight to effectively address burgeoning data-related issues and concerns, and be in a position to produce intended statistical forms and table, and;  2. Identification of some future work based on mutual cooperation. I thank you all for your attention and wish all a productive and rewarding workshop. 2  BIS Review 170/2010