Gulf Cooperation Council History and current Scenario...
Gulf Cooperation Council:
Introduction
On 25th May 1981, the leaders of Bahrain, Kuwait, Oman, Qatar,
Saudi Arabia and UAE met in Abu Dhabi, United Arab Emirates, where they reached
a cooperative framework joining the six states to effect coordination, integration
and inter-connection among the Member States in all fields in order to achieve
unity, according to article 4 of the GCC Charter. The base of this organization
is erected on geographical proximity, homogeneous political systems, similar
Islamic beliefs, same cultural identities, monolingualism and common
objectives.
Background
Following dramatic global increases in the price of oil and
natural gas during the 1970s, formation of the GCC represented an effort to
manage economic growth and diversify the economic base of the region. GCC
member nations agreed to abolish customs duties on domestically produced goods;
harmonize banking regulations; coordinate trade, development and industrial
projects; and allow free movement of people and vehicles. GCC nations also
undertook efforts to privatize publicly owned enterprises, such as state-run
utilities.
Member States:
·
Bahrain —
constitutional monarchy
·
Kuwait — hereditary
emirate
·
Oman — absolute
monarchy
·
Qatar — constitutional
monarchy
·
Saudi Arabia —
absolute monarchy
·
United Arab Emirates —
federal monarchy
The Gulf Cooperation Council (GCC) is a
political and economic alliance made up of six Middle Eastern countries located
in the Gulf region on the Arabian peninsula. The bloc aims to boost economic
cooperation between members and, through collective security, to guard against
any threat from neighbouring states and from Islamic extremism. The GCC also
aims to achieve unity among its members based on their common objectives and
their similar political and cultural identities, which are rooted in Islamic
beliefs.
