Live Currency Rates
 
  Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Sharp rise in Inter-GCC trade  Join our daily free Newsletter

MENAFN - The Peninsula - 10/04/2010

No. of Ratings : 0
Add to Mixx!


 


(MENAFN - The Peninsula) Inter-GCC trade has risen more than four times since 2002 due primarily to the establishment of a regional customs union.

Regional trade was worth 15bn in 2002, a figure which soared to an incredible 65bn in 2008, according to Dr Khalid bin Mohamed Al Attiyah, Minister of State for International Cooperation and Acting Minister of Business and Trade.

He told an event which was held to mark 30th anniversary celebrations here of the Federation of GCC Chambers of Commerce that the announcement to set up a common regional market earlier had a positive impact on inter-GCC trade. The minister said that the GCC private sector had developed very fast and was now capable of sustaining the regional economy in the face of dwindling oil prices.

"Our private sector is a safeguard against future volatilities in the global oil markets which can otherwise hit our economies hard," he said at the conclusive day of the two-day event on Thursday. Such events, according to the minister, are quite significant as they accelerate interaction between the private sectors of GCC countries which eventually helps in increasing regional trade.

 






  MENA News Headlines


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help