Economic Development of Gulf Cooperation Countries An overview
Keywords:
fiscal policy, Economic development, Free Trade, GDP, GCCAbstract
The Gulf Cooperation Countries common was launched in the year 2008. The launch of the common market aided in the national treatment of all the six member countries with equal opportunities and gains and all the stumbling blocks that use to stand on the way of the countries in terms of open trade were removed with an effort to create an open market, a market that all members could approach without any barrier that prevented mass investment. The agreement became effective at the beginning of 2008, although earlier in 2003, a custom union was made clear. The union has faced a lot of challenges especially at the time when America signed free trade agreement with other nations cutting across the GCC’s agreement. This caused a lot of discontentment between the members hence paralyzing the operations of the union for some good time. The purpose of this paper is to explore the real issues that has succumbed the agreement since its inauguration up to the present moment .
