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Volume :41 Issue : 156 2015      Add To Cart                                                                    Download

GCC Trade Potentials with EU Members.

Auther : Dr. Nayef N. AL–Shammari

     This paper investigates potentials of trade between GCC and EU countries. The data set covers around 33 countries over the period from 1980 through 2008. The model is estimated using an augmented gravity model with fixed effects specification to identify the impact of GCC–EU Economic Cooperation Agreement on bilateral trade at the aggregate trade level as well as disaggregate trade level. Findings show that the indicated economic agreement enhances bilateral aggregate exports between GCC and EU countries by 211%. However, the size of the economic agreement effect is much smaller based on disaggregate data. Findings show that the benefit of the Economic Cooperation Agreement between GCC and EU countries depends mainly on the level of intra–regional trade in some particular sectors. This study finds that EU–GCC trade has definite potential to expand through the proposed Free Trade Agreement.


 

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