The GCC Intellectual Property Training Center ParticipatesThe GCC the Intellectual Property Training Center employees and a group of the GCC specialists participated in the "Intangible Assets: Identification and Use" Read more 28May2020Share this news...tweetThe Speech of the Secretary General of the Gulf CooperationHE Dr. Nayef Falah Mubarak Al-Hajraf, Secretary General of the Gulf Cooperation Council delivered a televised speech marking the 39th anniversary of the establishment Read more 25May2020Share this news...tweetThe GCCPO participates in the Arab Virtual Innovation FThe GCC Patent Office participated via visual communication in the Arab Virtual Innovation Forum, held on Thursday, 21 May 2020. The GCCPO represented at this forum Read more 21May2020Share this news...tweetA Brainstorming Session to discuss the Situation of theProceeding from the role of the GCC Authorities concerned with small and medium enterprises to discuss the economic effects of the Corona virus epidemic. Moreover, Read more 18May2020Share this news...tweetDiscussing the Effects of the Corona Pandemic on the GCCAt the invitation of the General Secretariat of the Gulf Cooperation Council, the Technical Committee of the GCC Ports and Maritime Authorities held a meeting via visual Read more 18May2020Share this news...tweet News Events No content found More Events Menu عربي ×News × Events ×Employees Mail × . . × × HomeAbout GCC Member StatesThe CharterOrganizational StructureObjectivesLogo Secretariat General Secretary GeneralAssistant SecretariesTendersJobs GCC AchievementsCurrently selected AchievementsProjects Statements Supreme CouncilMinisterial Council Data Events And Competitions EventsCompetitions Cognitive Sources Laws and RegulationsAgreementsDigital LibraryGCC Statistics Media Center GCC NewsAdvertisingMultimedia LibraryMailing ListLinks Contact US Contact USOffices Search Employees Mail The Customs Union The Customs Union الرئيسية›Home›GCC Achievements›Achievements›Economic Cooperation›The Customs Union›Impact of the Customs Union on Intra-GCC Trade AchievementsObjectivesImpact of the Customs Union on Intra-GCC TradeCurrently selectedTransitional Period of the Customs Union (2003-2009)Practical procedures for the establishment of the GCC Customs UnionCustoms Union in regional and international frameworks The growth rates of Intra-GCC trade is not anticipated, in the short run, to reach the rates achieved by the European Union. A study made by the Secretariat prior to the formation of the customs union estimated that the growth of Intra-GCC trade would be 6-30% during the first four years. Those estimations were based on factual basis and were calculated using peer experiences based on the "GCC Integrational Model" due to the great similarity among the economies of the GCC States, the structural characteristics of these States and the continuous trade-restricting conditions during the transitional period.In order to identify the actual advantage of the GCC customs union in such a short time, it was necessary to measure the growth rate of Intra-GCC trade after the formation of the GCC Customs Union and compare that growth rate with the historical growth average of the Intra-GCC trade before the formation of Customs Union.To this effect, detail studies have been conducted. Such studies have analyzed the volume of Intra-GCC trade during the period 1993-2004 in order to be able to compare the volume of Intra-GCC trade before and after the creation of the GCC Customs Union. It was surprising that those studies have indicated a high growth rate in the Intra-GCC trade after the formation of the Customs Union on the 1st of January 2003. That growth was beyond all expectations because the volume of Intra-GCC trade has increased from US$ 11.6 billion in 1993 to US$ 20.3 billion in 2002, i.e. an increase by 75.5% over the past ten years or an average annual growth accounting for some 7.5%.After the formation of the customs union in January 2003, the volume of Intra-GCC trade has increased by an annual growth average that exceeded 20%.