It is estimated that the Gross Domestic Production [GDP] of Gulf Cooperation Council [GCC] states may reach as high as $1.5 trillion in 2013, depending if oil prices remain at $100 per barrel. This is consistent with the expectations of the oil market based on international levels of supply and demand.
If we take current global standards into account, which talk about a state’s power and ability to influence according to the size of its economy and the per capita income of its citizens as well as the extent of its economy’s development; these figures grant a clear picture that we are talking about an economic force to be reckoned with on the international level, as well as in terms of regional standards.
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