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GCC

The Gulf Cooperation Council (GCC) is an intergovernmental political and economic union consisting of Bahrain, Kuwait, Qatar, Saudi Arabia, Oman, and the United Arab Emirates. The GCC aims to foster cooperation between member states in economic, financial, trade, customs, tourism, and other matters. It also seeks to establish scientific research centers, joint ventures, a unified military presence, and a common currency. The GCC is headquartered in Riyadh, Saudi Arabia and its Secretary General is AbdulRahman bin Hamad al-Attiyah.

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0% found this document useful (0 votes)
42 views1 page

GCC

The Gulf Cooperation Council (GCC) is an intergovernmental political and economic union consisting of Bahrain, Kuwait, Qatar, Saudi Arabia, Oman, and the United Arab Emirates. The GCC aims to foster cooperation between member states in economic, financial, trade, customs, tourism, and other matters. It also seeks to establish scientific research centers, joint ventures, a unified military presence, and a common currency. The GCC is headquartered in Riyadh, Saudi Arabia and its Secretary General is AbdulRahman bin Hamad al-Attiyah.

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GULF COOPERATION COUNCIL (GCC)

What is it?
Among the stated objectives are:
- Formulating similar regulations in various fields such as economy, finance, trade, customs,
tourism, legislation and administration
- Fostering scientific and technical progress in industry, mining, agriculture, water and animal
resources
- Establishing scientific research centers
- Setting up joint ventures
- Unified military presence The Peninsula Shield
- Encouraging cooperation of the private sector
- Strengthening ties between their people
- Establishing a common currency by 2010

What countries are members?


- Bahrain
- Kuwait
- Qatar
- Saudi Arabia
- Oman
- United Arab Emirates

Trade Leader
Secretary General: AbdulRahman bin Hamad al-Attiyah
Supreme Council Presidency: United Arab Emirates

Headquarters
Riyadh, Saudi Arabia

Benefits
- Better relationships between member countries
- Co-operation of the private sector allows for increased trade
- Common currency allows easier trade
- If a country is struggling financially they can receive money
- Free flow of labour

Drawbacks
- Individual countries joining different trade blocs may cause conflict with GCC members
- Annual payment must be made
- If a GCC member joins another trade bloc it may also cause conflict as a result of different
objectives and aims

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