The UAE’s trade with the GCC nations has grown considerably in 2011, as the exports grew nine per cent year-on-year to $9.626 billion, while imports were robust at 26 per cent to $7.575 billion.
The volume of total intra-GCC bilateral trade rose to $85 billion in 2011 from $6 billion in 1984, says the GCC Common Market’s facts and figures, the fifth annual statistical report issued by GCC Secretariat
The report featured issues of GCC citizens that relate to the Gulf Common Market, such as residency, equality in the public and private spheres, protection and insurance, education, and health. Obaid Humaid Al Tayer, Minister of State for Financial Affairs, said: “The UAE will continue to enhance and deepen Gulf economic integration in an effort to improve the GCC common market to achieve what serves the interests of the GCC countries and their citizens.”
The report said that 13 million GCC nationals travelled to each other’s countries using their personal IDs.
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