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Volume :23 Issue : 88 1998      Add To Cart                                                                    Download

THE BENEFIT OF ECONOMIC COOPERATION: A quantitative Study of the Gulf Cooperation Council

Auther : By: Dr. Abdullah M. Al-Obaidan

 
                The Arabian Gulf region is composed of six states: Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates.  The Arabian Gulf States have a combined population of more than 21 million and are considered to be among the highest in per capita purchasing power in the world.  These states have excellent infrastructure and relatively free mobility of capital and goods.  In 1981, the six Arabian Gulf States formed the Gulf Cooperation Council (GCC) with the declared aim of fostering cooperation among them.  Promoting trade and economic cooperation are considered to be top priorities of the GCC members.  Consequently, the formation of GCC motivated joint venture projects such as the Gulf Invest Group, which is the first financial institution to be set up under GCC auspices.  The establishment of joint investment projects and the reduction of trade barriers among GCC members should promote more efficient use of the GCC member states’ human and capital assets.

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