Economies of Gulf Cooperation Council (GCC) countries need to address key economic issues in 2013. These challenges include consolidating regional economic integration, strengthening economic liberalisation drive and addressing the job headache in some member countries. On the international front, the challenge entails refreshing efforts to conclude trade agreements with other countries and blocks, notably the European Union.
One such challenge concerns slow pace of regional economic integration with regards to implementation of the Gulf Common Market (GCM). Launched in 2008, the GCM calls for free movement of factors of production within the six-nation grouping. However, complaints are plenty from business leaders and entrepreneurs of untold hurdles for attempting to open up branches in fellow GCC countries.
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