‘GCC경제협정’에 관한 고찰

Abstract

This paper is to consider GCC Economic Agreement focusing in its contents. With the new millennium, GCC members are going all out in carrying out establishment of infrastructure, Human resource development, the various projects on the back of high oil prices. No studies have ever tried to analyze the contents of GCC Economic Agreement. First of all, I pointed out that the establishment background of GCC was based on political and economic elements; 1)Islamic Revolution of 1979, 2)The Grand Mosque Seizure of 1979, 3)Soviet Attack on Afghanistan of 1979, 4) Iran-Iraq War of 1980, 5)Maximizing revenue by stable oil supply. In the view of the administrative structure of GCC, it is hierachical structure focused on the Supreme Council which makes the ultimate decision a policy making body. GCC members jointly formulated the various regulations concerning trade policy, common market, development integration,human resource, scientific and technical research, infrastructure, etc,for the integration between GCC countries. Especially, they are concentrating on the education development in preparation for the depletion of oil in the future. Also they agreed that the economic agreement shall have prevail against local laws or regulations if disagreed. But they have different views in undertaking monetary union including currency unification according to a report.