Intra-Commodity Trade: GCC s Golden Opportunity to Achieve Sustainable Growth Rates Published January 6th, 2021 - 08:30 GMT
Ranking 13th among the world s largest economies, the GCC controls a large proportion of global oil production. (
Highlights
All six GCC states continue to develop economic interdependence through implementing a host of measures, the most important of which is working towards realizing a fully integrated single market by launching a common market.
The Gulf Cooperation Council (GCC) is home to one of the world’s most vital economic groups, given the union’s tremendous capabilities and strong energy and trade sectors. The combined GDP of GCC states reached $1.64 trillion in 2019.