The Gulf Cooperation Council (GCC) was formed in 1981 between Qatar, Saudi Arabia, Bahrain, Kuwait, Oman, and the UAE to enhance their integration, coordination, and interconnection. Over the last few decades, GCC countries have had unmatched economic growth, enabling them to rank among the leading nations based on per capita income. However, fluctuations in oil prices have been the major factors impeding the progress of these oil-dependent economies. Reliance solely on oil & gas sector for economic prosperity is not a sustainable option and hence there is a shift towards economic diversification. It has notably benefited agriculture sector, which is a key pillar of any economy
The Gulf Cooperation Council (GCC) was formed in 1981 between Qatar, Saudi Arabia, Bahrain, Kuwait, Oman, and the UAE to enhance their integration, coordination, and interconnection. Over the last few decades, GCC countries have had unmatched economic growth, enabling them to rank among the leading nations based on per capita income. However, fluctuations in oil prices have been the major factors impeding the progress of these oil-dependent economies. Reliance solely on oil & gas sector for economic prosperity is not a sustainable option and hence there is a shift towards economic diversification. It has notably benefited agriculture sector, which is a key pillar of any economy
