Gulf Cooperation Council

Gulf Cooperation Council Latest News

Recently, India and the Gulf Cooperation Council (GCC) have signed the Terms of Reference for a Free Trade Agreement in New Delhi.

About Gulf Cooperation Council

• It is a regional political and economic alliance established in 1981.
• Member countries: It comprises Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates (UAE).
• Objective: To foster economic, security, cultural, and social cooperation among its members.
• Background: It was formed in response to escalating regional tensions, particularly the Iranian Revolution (1979) and the Iran-Iraq War (1980–1988).
• Headquarters: Riyadh, Saudi Arabia.

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Organizational Structure of the Gulf Cooperation Council

• Supreme council
  • It is the highest authority of the GCC, composed of the heads of the member states.
  • Its presidency rotates alphabetically according to the names of the countries.
  • It convenes in a regular session annually.
• Ministerial council
  • It is composed of foreign ministers or their representatives from member states.
  • It proposes policies and implements decisions of the Supreme Council.
• Secretariat general: Its responsibilities include preparing studies to enhance cooperation, coordination, and integration in joint Gulf projects and initiatives.

India –GCC Free Trade Agreement

• Key exports from India to GCC include engineering goods, rice, textiles, machinery, gems and jewelry.
• Key sectors of imports from GCC primarily comprise crude oil, LNG, petrochemicals, and precious metals such as gold. 

Source: News On Air