The mounting feeling for the need of strengthening fraternity bonds and consolidating steps enhancing economic cooperation among countries sharing common characteristics, objectives, and destiny had led
to entertaining the idea of establishing a federation comprising the Chambers of commerce, industry, and agriculture in the Arab Gulf states.
Preliminary meetings in October 1976, attended by the federations and chambers of the seven Gulf Arab States, of Kingdom of Bahrain, State of Kuwait, Sultanate of Oman, State of Qatar, Kingdom of Saudi Arabia, United Arab Emirates, and the Republic of Iraq paved the way for establishing the Federation of the Chambers of Commerce, Industry and Agriculture of the Arab Gulf States (FAGCC ). In October 1979, the Federation was officially launched and Dammam – Kingdom of Saudi Arabia, was named as the host city . In 1990, and as a result of the Iraqi regime invasion of Kuwait, the Federation's Council dropped Iraq's membership and renamed the Federation as The Federation of GCC Chambers ( FGCCC ).
Objectives of the Federation:
The mission of the Federation includes the following three main objectives:
1. The realization of GCC economic integration within a comprehensive, effective and advanced format based on a solid conviction that this integration is a necessary prerequisite for any real balanced and sustained development not only for GCC countries as a whole but also for each individual member state. By making the GCC countries a unified economic bloc, this integration will enable them to deal with other economic blocs on equal footing. The integration of these countries will also complement the Arab Economic Integration project as well as promoting the international economic cooperation and prosperity in general.
2. The representation of the GCC private sector in Arab, regional and international forums and present the GCC businessmen views and visions and coordinate their positions regarding the various economic issues and policies. The Federation supports the active role of GCC businessmen in developing their national economies within an integrated GCC economy based on the fact that the GCC private sector - whose governments provide with the appropriate legislative and organizational frameworks – is the basis and motivator of development. Furthermore, economic freedom based on equality of opportunity and competition and the abolition of monopoly and exploitation in all forms are the appropriate means for realizing prosperity, justice and a balanced society. They constitute the most effective ways for the creation and development of a dignified and rewarding employment opportunities as well as for the enhancement of the productive and creative capabilities of GCC citizens and their optimal utilization.
3. The consolidation of the role of member chambers, councils and federations as representatives of the business communities and private sectors in their respective countries .The Federation will support their administrative and technical structures and their information and technological capabilities to properly play this role. The Federation will also coordinate its members views and positions within Arab, regional and international organizations and will lend support to other unions, economic entities and projects, as well as specialized organizations that may serve the aspirations and objectives of the Federation.
In order to carry out its mission and achieve its main objectives, the Federation has been pursuing and participating in the following tasks:
1)establishing economic citizenship rights of GCC subjects ,including those for work, ownership and investment.
2)encouraging the freedom of movement of national products among GCC states, without any administrative or custom barriers.
3)exploring areas and opportunities for establishing joint GCC economic projects. Introducing, promoting and facilitating their creation and treatment as national projects in all GCC countries.
4)encouraging the utilization, individually and collectively, of available resources in developing the agricultural sector, fisheries and livestock including food industries and food stuff warehouses to realize an acceptable level of food security in the region.
5)coordinating between GCC countries in the various economic sectors such as banking, insurance, communications , and international marketing,..etc.
6)encouraging coordination among GCC countries regarding their monetary policies which should culminate in having one GCC currency.
7)conducting and publishing research on issues related to the enhancement of economic activities in GCC countries.
8)publishing periodicals, directories and other publications as required.
9)organizing regional and international economic conferences and symposia, and similar activities.
10)organizing exhibitions and fairs and participating in such activities to promote GCC products and expand their markets.
11)mediating in commercial disputes which arise among businessmen and companies from more than one GCC country, and refer cases - where parties agree - to the GCC Commercial Arbitration Centre.
12)training and developing of national manpower by utilizing available means and resources to achieve an acceptable level of self-sufficiency in the field of manpower.
Global Arab Network
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