Determinants and Possibilities for Economic Integration among the GCC Countries

Determinants and Possibilities for Economic Integration among the GCC Countries

  • 13 February 2001

The implementation of GCC economic agreements has
been modest in relation to potential and in comparison
with international blocs such as the WTO and the
European Common Market. Dr. Al-Asoomi advocated
GCC economic integration since each country does
not individually possess the constituents necessary to
face international competition in the information age.
The UAE’s federal unity and development experience
was cited as a worthy model. The key points stressed
by the speaker included exploiting human resources
and infrastructure surplus for diversification; unifying
customs tariffs and substituting value-added tax; issuing
a unified currency; according preference for Gulf federal
laws over domestic laws; creating a Gulf nationality; and
abolishing investment restrictions for Gulf nationals.

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LECTURER

Tuesday 13 February 2001

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Tuesday 13 February 2001

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