https://arab.news/62qv3
Since its establishment in 1981, the Gulf Cooperation Council has evolved into one of the world’s most successful models of regional cooperation and economic integration.
Over more than four decades, the GCC states have achieved notable progress across economic, political, developmental, social and cultural spheres, strengthening not only the Gulf’s regional and international standing, but also the prosperity and stability of its people.
These achievements were highlighted during the recent GCC Achievements Forum, held under the theme “Renewing Reality and Evolving Vision.” Organized by the Gulf Radio and Television Organization in partnership with the GCC General Secretariat, the forum provided an important intellectual and media platform to showcase the depth of Gulf unity and the milestones achieved through collective action and cooperation.
I had the privilege of chairing the forum’s first panel discussion, “Gulf Achievements and the Role of the GCC in the Current Crisis,” which brought together assistant secretaries-general of the GCC to examine the council’s political, economic, security and developmental accomplishments, as well as its ability to navigate regional and global challenges through coordination, integration and unified action.
The discussions underscored the substantial economic progress made by GCC states in recent years. Since the launch of the GCC Customs Union on Jan. 1, 2003, intra-GCC trade has expanded significantly, recording an annual growth rate of 24 percent between 2003 and 2013.
This momentum has continued steadily, with the value of intra-GCC trade surpassing SR547.5 billion ($146 billion) in 2024, representing annual growth of 9.8 percent compared with 2023.
These figures reflect the deepening level of economic integration among GCC member states and the growing strength of Gulf trade and investment ties in supporting sustainable development across the region.
Ultimately, the GCC stands as a compelling example of regional cooperation built on shared interests, collective resilience and a long-term vision for sustainable growth.
Talat Zaki Hafiz
The GCC’s trade exchange with the rest of the world also demonstrated strong momentum, reaching nearly SR5.96 trillion in 2024 — an increase of 7.4 percent year on year. This growth reaffirms the bloc’s expanding economic influence and its increasingly pivotal role in global trade and the international economy.
Meanwhile, GCC merchandise exports totaled SR3.19 trillion in 2024, while imports reached SR2.77 trillion. These numbers are more than economic indicators; they represent a dynamic commercial network linking the Gulf economies to global markets and reinforcing the region’s position within international supply chains.
The GCC’s combined gross domestic product reached approximately SR8.72 trillion at current prices in 2024, reflecting annual growth of 2.2 percent. More significantly, non-oil GDP climbed to nearly SR6.62 trillion, recording growth of 5.6 percent. This performance highlights the success of economic diversification strategies and the increasing contribution of non-oil sectors to the region’s long-term development agenda.
The forum also emphasized the increasingly important role of Gulf media in communicating the GCC’s developmental and civilizational achievements to regional and international audiences. Participants stressed the need for accurate, timely and transparent data from official sources to enable media institutions to operate with greater professionalism, credibility and impact.
Equally important is the development of a unified Gulf narrative capable of presenting these achievements across multiple languages and cultural contexts, helping strengthen international awareness and appreciation of the Gulf’s development experience.
Ultimately, the GCC stands as a compelling example of regional cooperation built on shared interests, collective resilience and a long-term vision for sustainable growth. Preserving these achievements — and communicating them effectively to the world — will remain essential to strengthening Gulf unity and enhancing the region’s influence on the global stage.
• Talat Zaki Hafiz is an economist and financial analyst. X:@TalatHafiz