The Gulf Cooperation Council: Institutions, Laws, Policies and External Relations
The Gulf Cooperation Council (GCC) constitutes a unique example in the history of Arab regionalism because of its hybrid nature and its peculiar characteristics.
This book provides an overview of the legal, historical and geopolitical background of the GCC and analyzes the institutional structure and the objectives of the Council. Various areas of cooperation are discussed, with a special focus on legal and economic cooperation. The book also explores the GCC’s external relations and discusses the future perspectives of this unique sub-regional organization.
While the GCC has attempted to develop a successful cooperative framework based on a customs union and a common market, they are still far from an integrated monetary union. The 2017 VAT agreement offers an opportunity for the GCC to reflect on the future path of regional integration oriented towards a fiscal integration that could possibly lead to currency union.