The six countries that form the GCC (Gulf Cooperation Council) – Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates – have a combined population of 47 million people and an annual economic output of around £1 trillion. These GCC nations create a powerful network of both open and integrated economies that are essential for facilitating world trade between the Middle East, Asia, Europe, Africa and America.
The Middle East has become a lucrative trading hub that contributes significantly towards driving the global economy, particularly in terms of maritime trade. To further reinforce the prominence of the GCC as a trade region, in 2014, Qatar, the UAE, Jordan, Oman, Kuwait and Saudi Arabia were all ranked as the highest out of 45 emerging markets in the Agility Emerging Markets Logistics Index for the category of “market compatibility”, due to the ease of conducting business in these regions.
This edition of the Trade Focus Report highlights the role that the GCC plays in international trade operations, with a particular focus on the expansion project taking place at the Port of Doha and further infrastructure developments that could enhance the region’s competitiveness in global shipping.
Download the latest version of the Trade Focus Report here.