Doing Business in the Gulf Region
The Gulf Co-operation Council (GCC) is a political and economic union of Arab states bordering the Gulf. Established in 1981, it comprises 6 members, namely, the United Arab Emirates, Saudi Arabia, Qatar, Oman, Kuwait and Bahrain. The GCC is located at the crossroads of the major Western and Eastern economies. The GCC’s well-established and efficient air & sea connections and developed infrastructure make it an excellent place to set up and expand businesses.
Since the discovery of oil in the United Arab Emirates (UAE) more than 40 years ago, the Gulf region has been subjected to a profound transformation and is now home to some of the fastest growing economies in the world. Today, the governments of the GCC countries strive to diversify their economies away from dependence on hydrocarbon industries. These diversified growth sectors such as finance, logistics, aviation, communications, healthcare and tourism present us with abundant business opportunities. Favourable policy frameworks towards foreign co-operation, investment and modernization result in extensive diplomatic and commercial relations with other countries.