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GCC union 'an economic turning point'

Manama, January 8, 2012

A proposed GCC "union" will be an important economic turning point, Bahrain Chamber of Commerce and Industry (BCCI) chief executive Ibrahim Al Lingawi said.

A BCCI study on the benefits of a "union" for Bahrain's economy shows that citizens will benefit the most and their living standards will improve, Al Lingawi told our sister paper Akhbar Al Khaleej.

He said the "union" will help small and medium enterprises and open doors for young Bahraini businessmen to produce and export.

It will also protect against economic crises and unify money markets, double trade, help private sector, boost legal and regulatory environment and increase investments, Al Lingawi added.

His Majesty King Hamad and leaders of other GCC countries have welcomed Custodian of the Two Holy Mosques King Abdullah's proposal to form a union at the last GCC Summit in Riyadh.

The BCCI study also highlighted the factors and reasons to choose Manama as the capital of the "union", said Al Lingawi.-TradeArabia News Service

Tags: Bahrain | Saudi | industry | commerce | GCC Union | turning point |

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