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Volume :20 Issue : 79 1995      Add To Cart                                                                    Download

“THE GCC COUNTRIES MEMBERSHIP OF THE GATT: OPPORTUNITIES AND CHALLENGES”

Auther : By: Dr. Yousuf Khalifa Al-Yousuf

The present paper explores the opportunities and challenges that the GCC countries should expect as they become full members of the GATT (or the World Trade Organization as it became known since the beginning of 1985). To do so, the paper is divided into four main parts. Part one presents a background view of the GATT. In the second part, the paper assesses the achievements and failures of the above organization over the last four decades or so. Then, in part three, the paper dwells on the potential effects of GATT on the different sectors of the economies of the GCC countries. One major conclusion comes out of this analysis, and that is given the present socio-economic conditions in the GCC countries, they will be net losers unless a number of conditions are met. Accordingly, the last part of the paper attempts to discuss some of these conditions that are necessary for the countries of the region to maximize their gains from joining the GATT, which include; the unification of their bargaining position, the development of human resources, the diversification of their economic structures, the expansion of the private sector and the rationalization of public expenditures.

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