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Middle East Business Economy -
Institutions
Contents:
- Introduction to the Cooperation Council for the Arab States of the Gulf. Objectives. Organizational structure.
- Economic, trade and customs cooperation. Economic nationalization. Monetary union and single currency.
- The economic agreement between the Gulf cooperation council states.
- Implementation procedures for the GCC customs union.
- Economic relations with the other economic groupings.
- Federation of GCC chambers of commerce.
- Intra GCC trade. Statistics.
Summary:
GCC: United Arab Emirates, Kingdom of Bahrain, Saudi Arabia, ... Objectives: coordination, integration and inter-connection between Member States
The Cooperation Council for the Arab States of the Gulf Is a trade bloc
involving United Arab Emirates, Kingdom
of Bahrain, Kingdom ff Saudi Arabia, Sultanate of Oman,
State of Qatar, State of Kuwait with many economic and social objectives (Common
markets, ...)The GCC Charter states that the basic objectives are to effect coordination,
integration and inter-connection between Member States in all fields,
strengthening ties between their peoples, formulating similar regulations in
various fields such as economy, finance, trade,
customs, tourism, legislation, administration, as well as fostering
scientific and technical progress in industry, mining, agriculture, water and
animal resources, establishing scientific research centers, setting up joint
ventures, and encouraging cooperation of the private sector.
The Supreme Council, in its 23rd Session held in Qatar ( 21 - 22 December
2002), approved the launch of the customs union of the GCC States as of 1st
January 2003. It also approved the procedures and steps recommended by the
Financial and Economic Cooperation Committee (The GCC Ministers of Finance and
Economy) for the establishment of the customs union of the GCC States.
Deep religious and cultural ties link the six states, and strong kin relations prevail among their citizens. All these factors, enhanced by one geographical entity extending from sea to desert, have facilitated contacts and interaction among them, and created homogeneous values and characteristics.
GCC Member States have gone so far in the field of trade cooperation. They have enhanced such cooperation for the benefit of the GCC States and citizens, which would consequently improve investment and trade climate.
Objectives of the trade cooperation between the GCC States are summed up in the endeavour to eliminate tariff barriers among Member States in respect to their products, exempt such products from customs duties and accord them national treatment, coordinate the exportation and importation policies and create a collective negotiating power in the field of exportation and importation.
Introducing the GCC single currency and establishing the GCC Monetary Union are the fruit of the economic integration stages achieved so far. This will increase the advantages of the economic integration and enhance the gains of the Customs Union and the GCC Common Market, as establishing the
GCC Monetary Union and introducing the GCC single currency will have many impacts on the various economic sectors, particularly
Intra-GCC Trade, tourism and investment. These impacts will largely reflect on the financial services and capital markets, which will achieve an increasing growth and accelerated developments.
Sample:
More information about scholarships in ...
Language: 
Master in Business with Muslims countries
- Master in Asia business
Cooperation, Council, Arab States, Arabic Muslims, GCC, United Arab Emirates, Kingdom of Bahrain, Saudi Arabia, coordination, integration, Master, International Business
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