Nobody downloaded yet

Overview of the GCC States - Essay Example

Comments (0) Cite this document
Overview of the GCC States Table of Contents Introduction 3 About GCC 3 Establishment of GCC 4 Creators of GCC 5 GCC Secretariat 6 GCC Meetings 6 Members of GCC in Annual Meetings 7 Conclusion 7 References 9 Introduction The Gulf Co-operation Council is a council of the Arab States in the region of Persian Gulf that is formed with six member states…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER92.1% of users find it useful
Overview of the GCC States
Read TextPreview

Extract of sample
"Overview of the GCC States"

Download file to see previous pages This is aimed at providing an economical balance in the Gulf region and also envisaged a common currency in the area (Low and  Salazar, 2011). This would help the council to foster the growth of the private sector in the economy of the Gulf region through economic co-operation, scientific and technological progress, joint ventures and strengthening the ties of the people among the Arab states. The Gulf Co-operation Council also aims to set up a unified military structure involving the Arab States. About GCC Gulf Corporate Council is the economic and political alliance of six different Middle Eastern Countries, such as Qatar, Saudi Arabia, Kuwait, Bahrain, Oman and The United Arab Emirates (MSU, 2013). In the year 2007, the states of Gulf Corporate Council supported the International compact document with Iraq which was adopted in Egypt. In the year 2011, Saudi Arabia suggested that the Gulf Corporate Council intensify their integration in order to form a confederation. However, several objections rose against this specific proposal of Saudi Arabia by the other GCC countries. Several discussions are going on regarding the future membership of Morocco, Jordan and Yemen. Establishment of GCC GCC is the short form of Gulf Corporate Council. GCC was founded in Abu Dhabi in the year 1981. The original council of GCC comprised a total 630 million acre Persian Gulf state of the UAE, Saudi Arabia, Bahrain, Oman, Kuwait and Qatar. The integrated economic agreement between the GCC countries was signed in Abu Dhabi in the year 1981 (Britannica, 2013). These six countries are referred to as the Gulf Corporate Council states. There are several key objectives behind the formation of GCC. Fostering technical and scientific progress in agriculture, mining, industry, animal and water resources is one of the major objectives of Gulf Corporate Council. The GCC states aimed to develop several scientific research centers in order to enhance countries’ growth. In addition, they are trying to establish several important joint ventures. This strategy and idea can enhance the business environment of GCC countries. Devising similar regulations in different social, political and economical fields, such as finance, trade, religion, tourism, customs, administration and legislation is another major objective of the states of Gulf Corporate Council (Ahmad & Faris, 2010). These countries were facing threat of several outside attacks. Therefore, they tried to cohesive strong military presence in these countries. This unified military force is recognized as Peninsula Shield Force. In the year 1981, these several states of Gulf Corporate Council aimed to establish a common currency by 2010. GCC tries to encourage the cooperation of several private sector organizations. According to the states, this co-operation can enhance the economic environment of these six countries. Healthy social balance of a country is very much important in order to achieve future growth (Kirgis, 2006). Therefore, Gulf Corporate Council aimed to strengthen the ties between the people of these countries. However, in the year 2006, Oman announced that the council cannot meet the objective within the target date. In addition, the country also announced that the ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“Overview of the GCC States Essay Example | Topics and Well Written Essays - 1500 words”, n.d.)
Overview of the GCC States Essay Example | Topics and Well Written Essays - 1500 words. Retrieved from
(Overview of the GCC States Essay Example | Topics and Well Written Essays - 1500 Words)
Overview of the GCC States Essay Example | Topics and Well Written Essays - 1500 Words.
“Overview of the GCC States Essay Example | Topics and Well Written Essays - 1500 Words”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
Regional Integration: GCC
...? Regional Integration: GCC Regional Integration: GCC Introduction Regional integration is a process by which two or more countries or states form a council or a collective and work together closely in order to attain stability, harmony and wealth. This integration is usually done by signing some written agreements that briefly describe which areas need cooperation (EU Learning, n.d.). GCC, Gulf Corporation Council includes the six Gulf countries; Saudi Arabia, Bahrain, Kuwait, Qatar, the United Arab Emirates and Oman. This council was formed in May 1981 in order to promote peace and unity among these countries (Dubai Government Media, n.d.). The major reason for the...
10 Pages(2500 words)Essay
GCC Economics and OPEC and investments as well as foreign trade across its borders. CIA (20115) stated that Bahrain GDP has being growing from $27.69billion in 2008, to $28.55billion in 2009 and $29.71billion in 2010. However, Bahrain experiences high rates of unemployment. In 2005, Bahrain experienced 15 percent unemployment. Commercial bank interest rates are one digit of 7.25 percent in 2010 and 7.9 in 2009. This indicates that the country has low cost of capital and lower returns on capital invested. On 11November 1981, Bahrain entered into a unified economic agreement with the GCC member countries and on 1 January 2008, Bahrain and GCC members launched a common market. On 15 December 2005,...
8 Pages(2000 words)Research Paper
...?UAE AND GCC SOCIETY Introduction Several leading organizations around the globe are trying to bring sustainability in their business process in order to overcome several legal and environmental challenges. UAE and several GCC Countries are known as major oil producers and distributors in global places. Day-by-day, the per capita consumption of oil and gas is increasing dramatically. Huge consumption of oil and gas and burning of fossil fuel are increasing the level of carbon emission in atmosphere. Global warming and rapid global climate change are the major consequences of higher level of carbon emission (Singh 257). Government of several countries is developing various environmental policies in order...
5 Pages(1250 words)Essay
Central Bank for GCC
... conditions in the Arab GCC banking system Journal of Banking & Finance 30 (2006) 3487–3501. AlKholifey, A. & Alreshan, A. (2009) GCC monetary union. Bank for International Settlements. IFC Bulletin No. 32. Retrieved from Sturm and Siegfried (2005) REGIONAL MONETARY INTEGRATION IN THE MEMBER STATES OF THE GULF COOPERATION COUNCIL. European Central Bank. Occasional Paper Series No. 31. 2005. Retrieved from ?Central Bank for GCC Executive Summary The Gulf Cooperation Council (GCC) consists of six countries, Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. The study focuses on role of the...
5 Pages(1250 words)Research Paper
Oil and the GCC States by developed countries standard. The changes that are currently happening externally and internally makes change an inevitable factor in these governments. Drastic changes at this point will never be realized which in turn necessitates that these should be gradual. Reforms in democratization range from short-medium term. The danger mostly lies in what could be trapped ‘liberalized autocracy’ or continued expansion as can be seen in Kuwait. What is apparent is that there are varying degrees of reform according to the different states’ and their acceptance of these changes. The extent of political families ruling the polities becomes the major concern for GCC democratization. The classification...
3 Pages(750 words)Book Report/Review
Companies in GCC
...Companies in GCC of the of the Table of Contents 2 Executive Summary 3 Introduction 4 Detailed Study 4 Conclusion 25 . Recommendations 25 Executive Summary The report will highlight the performance analysis of the companies based in United Arab Emirates (UAE).It will provide detailed performance analysis of the five companies named Gas, Sorouh, Tabreed, Emirate Islamic bank and Orient insurance. The performance analysis will be based on the Balance Sheet, Income Statement and stock price movement of all these companies. Therefore, through this report the improvement in the performance of the companies from the year 2011 will be highlighted in a detailed way. It will help to judge the profitability and market position...
8 Pages(2000 words)Research Paper
Companies in GCC
...Companies in GCC Contents Contents 1 Executive Summary 2 Introduction 2 Body of the subject 4 Organizational structure of Etisalat 4 Management Problem 5 Conclusion 6 Recommendations 6 References 8 Executive Summary Etisalat is a telecommunications service provider which is in existence since 1976. This report discusses about the organizational structure and management issues of Etisalat. It is found that Etisalat group has hierarchical organizational structure which needs to be more flat to accommodate the changing business scenario. Etisalat has many management issues and they have reshuffled their management team many a times. This report discusses about the problems and the recommendations for the problems faced by...
4 Pages(1000 words)Research Paper
Assignment GCC
...of unit Comparison of the GCC Countries’ Economic Performance The GDP that relates to the Gross Domestic Product is the total value of all commodities; goods and services that a nation yields within its borders every year. The GDP of the GCC countries tends to reduce from the year 2007 as time progresses except for a few cases, However, by 2011, almost all the countries GDP is significantly different from 2007 in a positive manner. In the year 2007, Bahrain experiences a GDP of 8.3 while Saudi Arabia has a GDP of 6. In the year 2011, Bahrain reduces to 2.1 while Saudi Arabia improves to 6.3. In the case of Kuwait, the GDP tends to go to a negative number in 2009 and 2010 to show a recession in the...
1 Pages(250 words)Assignment
Central Bank Of GCC
...GCC Central Bank Executive Summary This report proposes a structure for the suggested GCC Central Bank and compares with the structure of European Central Bank. It also identifies the arguments for and against the establishment of the GCC Central Bank, as well as its objectives and functions. The report suggests that the GCC Central Bank should have four decision making bodies namely: Executive Board, Governing Board, Advisory Council and General Operations Committee. This structure is similar to the ECB because they both have an executive board which implements the monetary policy of the central bank. However, the central bans differ in terms of those who formulate the...
7 Pages(1750 words)Research Paper
...Business Overview Business Overview Introduction A business can be defined as a social entity whose primary function is profit generation through cost minimization. It’s social in the sense that it has to interact with the environment for the attainment of its primary goals and objectives (Jensen, 1998). In this paper I am going to discuss my business overview with reference to its core purpose, vision, mission, organization strategy, business unit, sources of competitive advantage and business opportunities. Organizational context My organization is a profit making organization whose core function is soft drink production. Its name is Freshest Bottlers. The primary function of my...
1 Pages(250 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Let us find you another Essay on topic Overview of the GCC States for FREE!
logo footer
Contact us:
Contact Us Now
FREE Mobile Apps:
  • StudentShare App Store
  • StudentShare Google play
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • Miscellaneous
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us