Over 31 years of integrated efforts have resulted in major accomplishments across all domains and fields of life They have also given Gulf states a major influence in the wider Middle East region as well as on the international stage, through their coordinated positions on foreign policy and economic relations with the global community – something which has helped achieve their domestic interests and aided the aspirations of their people for a stable and prosperous future.
In a speech to his people on the United Arab Emirates’ national day on December 2, President of the UAE and Abu Dhabi Ruler Sheikh Khalifa bin Zayed Al Nahyan said his country would continue, with its GCC partners, supporting the strides for political, economic and security integration.
The unified economic agreement between the Gulf states, forming the Gulf Cooperation Council, was signed in Abu Dhabi in 1981, and on the occasion, a report conducted by Emirates News Agency (WAM) illustrated the size of this integration in the UAE, particularly noting to the economic scale.
Over the last four years, GCC nationals have enjoyed a huge growth in economic endeavours in the UAE, particularly in shareholding companies, with over 212,000 of them investing 5.3 billion dirhams (USD 1.45 billion) up to the end of 2011.
The UAE continues to provide obstacle-free licenses to GCC nationals for economic practices across its markets, under the flagship of the Gulf Common Market, according to a UAE Finance Ministry survey, added in the report.
Shareholding companies open to GCC nationals rose dramatically in the last few years, to 79 out of a total 106 registered under the Securities and Commodities Authority, the UAE’s chief body in charge of stock markets.
The total number of investors from the Gulf were 212,000 in 2011, up 1.9pct from a year earlier.
Real estate owners also present an astonishing rate of 32pct – with some 44, 900 people owning properties in their neighbouring country.
Job opportunities for Gulf nationals also thrive in the Emirates, with over 790 employed in the government sector and 2,906, working in private businesses.
