Gulf Cooperation Council

Gulf Cooperation Council

The Gulf Cooperation Council (GCC) Economic Agreement was first signed in 1981 and revised in 2001. The Agreement has been envisioned to bring economic integration among GCC countries in key areas like trade of goods, services, industry, and government procurement. 

The key objectives of the GCC Agreement are:

• Removal of all customs duties and restrictions on intra-GCC trade; A unified customs tariff for GCC imports.
• Liberalisation of trade in services for hybrid service providers.
• Similar treatment to GCC products, services, and service providers for national products.
• Streamline the movement of GCC natural and legal persons.
• Grant the same privileges as citizens in government procurement.

Article Twenty of the revised GCC Economic Agreement deals with Intellectual Property. It says “Member States shall develop programs encouraging talented individuals and supporting innovation and invention; cooperate in the field of intellectual property and develop regulations and procedures ensuring protection of intellectual property rights; and coordinate their relevant policies towards other countries, regional blocs and international and regional organisations.”

Contracting Parties:

Saudi Arabia - United Arab Emirates - Bahrain - Oman - Qatar - Kuwait.