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Volume :13 Issue : 52 1987      Add To Cart                                                                    Download

TOWARD A NEW ECONOMIC POLICY OF THE ARAB GULF STATES

Auther : By: Dr. Ali Khalifa Al-Kawari and Hamza M. al-Kawari

 

          The Arab Gulf States have witnessed some recession crises because of the decrease of trade activities before the beginning of the sixties and till 1982.  In all of these cases, the main reason is the decrease of oil prices.  Since economic recession is one fact of a basic crises, the low demand on OPEC’s oil at present is a long-sighted national strategy adopted since February 1974 by the member states of the Organization of Economic Cooperation and Development.  This policy is based on limiting the role of oil in the energy sphere and reducing dependence on general oil imports and the movement away from exports that make the need of oil-exporting countries more pressing than those of oil-importing states.  This will make the oil market a purchaser market where energy agencies indirectly set oil prices according to the interest of the member states.

           It is imperative; therefore, to directly draw economic policies that can enhance the economic basis alternate to oil.  This is the responsibility of the local governments and their realization of the importance of regional integrity and Pan-Arab cooperation for the achievement of a comprehensive development based on collective self-dependence.

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