ID :
44848
Mon, 02/09/2009 - 13:03
Auther :
Shortlink :
https://oananews.org//node/44848
The shortlink copeid
New book projects GCC Common Market as a promising economic power
Abu Dhabi, February 9, 2009 (WAM) - A new book written by the Abu Dhabi-based economist Khalfan Saeed Al Ka'abi projected GCC Common Market as a promising economic power of the future.
Introducing the book at a press conference held at the Abu Dhabi Chamber of Commerce and Industry yesterday Al Ka'abi said that the book provides a rich material that concerns the entire region.
Khalfan Al Ka'abi is the founder of ASCORP Industrial complex in Abu Dhabi and member of the Board of Directors of Abu Dhabi Chamber of Commerce and Industry.
The book entitled 'the GCC Common Market: a Promising Economic Power' presents a rich material that has concern not only for one country but the whole region. It also comes amidst a political -economic upheaval in the GCC sphere, and is intended to come up with a fresh economic trend not only related with what is existing on the ground, but more concerned with what will happen in this arena, said the publisher.
Perhaps at the fore of which is the agreement to launch the GCC common currency next year, and eliminating all obstacles that block its was, particularly against the backdrop of the historic global economic crisis which has generated transformations in the economic thought as a whole, and turned upside down theories which until recently were considered to be gospel truth which can never be contested The new book emphasizes the fact that the GCC Common Market, in its economic, political and social dimensions, provides tremendous opportunities for enhancing the status of GCC on the global level, particularly if it succeeds in investing the infrastructures owned by its countries in line with prudent collective management.
The potential and multiple challenges facing the GCC countries, particularly in the context of oil price fluctuation and the current global economic crisis, are the formidable challenges to these countries. Despite of that, Al Kaabi believes, that there are huge investment opportunities to be captured.
Such opportunities, however, are vulnerable as a result of the current economic downturn and faltering world economies, he stated. Driven by this outlook, the author calls for collective investment of the GCC achievements made through the past decades.
The book discusses a host of issues related to the realities of the economies of the GCC countries, the future of the GCC Common Market, and the underlying reasons for its emergence as a promising economic power, overwhelmed by optimism and bright future for a prosperous Arab Gulf and an active regional, Arab, and international bloc.
The author uses a various set of tools in introducing the material of his book, including monitoring and exploring the strength components and elements of the GCC countries, and the expectations that simulate the future, although drawing upon "poor" information and data in this area. The book, however, presents basic information on the economy files, highlighting strength and weak areas in GCC economies and the challenges facing them in the various fields.
Al Kaabi is of the opinion that with the GCC common market becoming operative, the GCC will have pushed forward in its unified march with a new spirit, and would have laid down the key building block in the formation of its character as one of the world giants on the economic and political arena, particularly as one significant aspect of such achievements, would be fully completed with the inauguration of the monetary union and the launch of the GCC single currency in 2010.
Introducing the book at a press conference held at the Abu Dhabi Chamber of Commerce and Industry yesterday Al Ka'abi said that the book provides a rich material that concerns the entire region.
Khalfan Al Ka'abi is the founder of ASCORP Industrial complex in Abu Dhabi and member of the Board of Directors of Abu Dhabi Chamber of Commerce and Industry.
The book entitled 'the GCC Common Market: a Promising Economic Power' presents a rich material that has concern not only for one country but the whole region. It also comes amidst a political -economic upheaval in the GCC sphere, and is intended to come up with a fresh economic trend not only related with what is existing on the ground, but more concerned with what will happen in this arena, said the publisher.
Perhaps at the fore of which is the agreement to launch the GCC common currency next year, and eliminating all obstacles that block its was, particularly against the backdrop of the historic global economic crisis which has generated transformations in the economic thought as a whole, and turned upside down theories which until recently were considered to be gospel truth which can never be contested The new book emphasizes the fact that the GCC Common Market, in its economic, political and social dimensions, provides tremendous opportunities for enhancing the status of GCC on the global level, particularly if it succeeds in investing the infrastructures owned by its countries in line with prudent collective management.
The potential and multiple challenges facing the GCC countries, particularly in the context of oil price fluctuation and the current global economic crisis, are the formidable challenges to these countries. Despite of that, Al Kaabi believes, that there are huge investment opportunities to be captured.
Such opportunities, however, are vulnerable as a result of the current economic downturn and faltering world economies, he stated. Driven by this outlook, the author calls for collective investment of the GCC achievements made through the past decades.
The book discusses a host of issues related to the realities of the economies of the GCC countries, the future of the GCC Common Market, and the underlying reasons for its emergence as a promising economic power, overwhelmed by optimism and bright future for a prosperous Arab Gulf and an active regional, Arab, and international bloc.
The author uses a various set of tools in introducing the material of his book, including monitoring and exploring the strength components and elements of the GCC countries, and the expectations that simulate the future, although drawing upon "poor" information and data in this area. The book, however, presents basic information on the economy files, highlighting strength and weak areas in GCC economies and the challenges facing them in the various fields.
Al Kaabi is of the opinion that with the GCC common market becoming operative, the GCC will have pushed forward in its unified march with a new spirit, and would have laid down the key building block in the formation of its character as one of the world giants on the economic and political arena, particularly as one significant aspect of such achievements, would be fully completed with the inauguration of the monetary union and the launch of the GCC single currency in 2010.
