Contents

pp v-vi

Preface

pp vii-viii

The Gulf Cooperation Council: A Rising Power and Lessons for ASEAN

Executive Summary

pp 1-2

1 - Introduction

pp 3-6

2 - The 1981 and 2001 Economic Agreements

pp 6-19

3 - The GCC Customs Union

pp 19-22

4 - The GCC Common Market

pp 22-24

5 - The GCC Monetary Union

pp 24-27

6 - Challenges in GCC Integration

pp 28-36

7 - Conclusion and Possible Lessons for ASEAN

pp 37-52

References

pp 53-54

Appendix 1 - Macroeconomic Indicators for GCC

pp 55-56

Appendix 2 - Low Level of Merchandise Trade with Partners in Regional Agreements

pp 57-57

Appendix 3 - Bilateral Trade Complementarity Index, 2006

pp 58-58

Appendix 4 - GCC Foreign Direct Investment, 1996 to 2007

pp 59-59

Appendix 5 - Gross Foreign Reserves (including gold), 1996 to 2007

pp 60-60

About the Authors

pp 61-61