GCC Common Market
E67913
The GCC Common Market is an economic integration initiative among Gulf Cooperation Council member states that aims to create a unified market with free movement of goods, services, capital, and labor across the region.
Statements (45)
| Predicate | Object |
|---|---|
| instanceOf |
common market
ⓘ
economic integration initiative ⓘ regional economic arrangement ⓘ |
| aimsTo |
create a unified market among GCC member states
ⓘ
enhance economic diversification in GCC countries ⓘ ensure free movement of capital ⓘ ensure free movement of goods ⓘ ensure free movement of labor ⓘ ensure free movement of services ⓘ facilitate cross-border investment within GCC ⓘ increase intra-GCC trade ⓘ promote economic integration among GCC states ⓘ |
| basedOn |
GCC Customs Union
ⓘ
surface form:
GCC Economic Agreement
|
| coordinatedBy | GCC Secretariat General ⓘ |
| geopoliticalScope | Arabian Peninsula ⓘ |
| goal |
achieve deeper economic integration than a free trade area
ⓘ
support sustainable development in GCC countries ⓘ |
| hasFeature |
coordination of economic policies among GCC members
ⓘ
cross-border ownership rights for GCC citizens ⓘ mutual recognition of professional qualifications among GCC states ⓘ progressive liberalization of intra-GCC trade in services ⓘ right of establishment for GCC nationals in member states ⓘ |
| implementsPrinciple |
equal economic rights for GCC nationals across member states
ⓘ
national treatment for GCC citizens in member states ⓘ |
| language |
Arabic
ⓘ
English ⓘ |
| memberEntity |
Bahrain
ⓘ
surface form:
Kingdom of Bahrain
Saudi Arabia ⓘ
surface form:
Kingdom of Saudi Arabia
Kuwait ⓘ
surface form:
State of Kuwait
Qatar ⓘ
surface form:
State of Qatar
Oman ⓘ
surface form:
Sultanate of Oman
United Arab Emirates ⓘ |
| organizationType | intergovernmental economic framework ⓘ |
| partOf | Gulf Cooperation Council ⓘ |
| policyArea |
capital mobility
ⓘ
economic integration ⓘ labor mobility ⓘ services liberalization ⓘ trade liberalization ⓘ |
| promotes |
private sector development in GCC
ⓘ
regional economic competitiveness ⓘ |
| region |
Eastern Arabia
ⓘ
surface form:
Gulf region
Middle East ⓘ |
| relatedTo |
GCC Customs Union
ⓘ
GCC Monetary Union (proposed) ⓘ |
Referenced by (3)
Full triples — surface form annotated when it differs from this entity's canonical label.