The Gulf Cooperation Council (GCC) is an economic and political union of six Arab countries located near the Persian Gulf. The GCC aims to coordinate and integrate member states in various aspects, including establishing a common currency and scientific research centers. The Supreme Council holds the highest authority, while the Consultative Commission and Ministerial Council are also part of the organizational structure.
The Gulf Cooperation Council, officially known as the Cooperation Council for the Arab States of the Gulf (CCASG), is an economic and political union of Arab countries located near the Persian Gulf in Southeast Asia. The council was established in 1981 when the leaders of six Arab states met in Abu Dhabi, the capital of the United Arab Emirates. The seat of the Gulf Cooperation Council is in Riyadh, which is the capital and largest city of Saudi Arabia, one of the member states.
The six countries that founded the Gulf Cooperation Council are the United Arab Emirates, Saudi Arabia, Bahrain, Oman, Qatar and Kuwait. The rulers of these states met in Abu Dhabi on 25 May 1981, united by the desire to create a cooperative framework and nurture unity in the Arab world. The six states believed they were intrinsically linked by history, religion and culture to make such a union possible. Primarily formed as a trading bloc, the Gulf Cooperation Council became official when its Unified Economic Agreement was signed on November 11, 1981.
The objectives of the Gulf Cooperation Council are in its charter, which seeks to coordinate, integrate and interconnect CCASG member states in all economic, financial, political, social, cultural, military, scientific and technological aspects. Some of the more specific goals include establishing scientific research centers and setting regulations and standards for certain sectors such as commerce, finance and tourism. The Gulf Cooperation Council also aims to establish a common currency among member states, similar to the European Union’s euro. As of May 2011, the proposed common fiat currency is denominated Khaleeji. If adopted, Khaleeji would be the currency of Bahrain, Kuwait, Saudi Arabia and Qatar, with the UAE and Oman preferring to wait for further comments.
The Supreme Council, formed by the leaders of the member states, holds the highest authority of the Gulf Cooperation Council. Among other things, this body is responsible for appointing the general secretary and setting up a dispute settlement commission. Five citizens of each state of the CCASG for a three-year term make up the Consultative Commission, which studies the issues referred to by the Supreme Council. Also included in the organizational structure of the Gulf Cooperation Council is the Ministerial Council, which is composed of the ministers of foreign affairs of the member states or the ministers of other departments acting on their behalf.
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