All eyes are fixed on the 33rd summit of the Gulf Cooperation Council (GCC) countries due to be held in Bahrain this week. It is hoped that GCC leaders will not overlook economic issues whilst discussing outstanding socio-political challenges in the region and beyond.
At stake is addressing issues related to primary integrating economic projects, namely the customs union, Gulf Common Market (GCM) and Gulf Monetary Union (GMU). Certainly, a considerable amount of detail and challenges go into ensuring implementation of putting these projects, thereby the possible slow pace of completion.
Launched in 2003, the customs union scheme failed repetitive deadlines. The original plan called for full implementation in a span of two years. Nevertheless, the GCC is now committed for ensuring across the board and categorical implementation of the project by 2015.
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