The mission of Arabian Gulf cooperation council - Essay Example

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The mission of Arabian Gulf cooperation council

In the modern world, there has been a lean on formation of trade blocks. Many countries in the world have come together to form trading blocks which acts as a platform for negotiation on matters concerning trade.In Europe there it the EU,in America there is NAFTA,in Latin America there is the MERCOSUR,and in the Middle East there is the AGCC.The Arabian Gulf Cooperation Council is the economic and political forum that coordinates policy making for at least six member states including the states of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. Individual countries have found it difficult to air their voices in the world on matters concerning trade and trade blocks have been found to be more influential in making trade agreements.This council was crated in May 19981 with an objective of coordinating, integrating and interconnecting the member states to work together in all fields. It was also formed with an intention of strengthening the ties between the member states and their people, formulating and regulating rules and regulating in economic fields. In this mandate the council was formed with an aim of putting in place regulation on economy, finance, trade, customs, tourism, legislation, administration, research and development, mining, agriculture, water and animal resources, and coordinating scientific research centers with the input of the private sector. The council does not impose trade policies upon its member states but each state put in place its own trade laws. ...Show more

Summary

In the modern world,there has been a lean on formation of trade blocks.Many countries in the world have come together to form trading blocks which acts as a platform for negotiation on matters concerning trade.In Europe there it the EU,in America there is NAFTA,in Latin America there is the MERCOSUR,and in the Middle East there is the AGCC…
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The mission of Arabian Gulf cooperation council essay example
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