Executive Insight – The GCC expands

by Fabio Scacciavillani May 3, 2011

written by Fabio Scacciavillani May 3, 2011

The ‘Arab Spring’ is yielding some unexpected and exotic political fruits. The proposal to accept Jordan and Morocco into the Gulf Cooperation Council is certainly among the most intriguing, and it was followed almost immediately by Palestine’s request to join. GCC Secretary General Abdul Latif al-Zayani announced that the current six members (Saudi Arabia, Kuwait, United Arab Emirates, Qatar, Bahrain and Oman) would welcome Jordan and Morocco into the bloc, saying that meetings “to complete procedures” are to be initiated soon. Given the swift response by an institution not known for the timeliness of its decision-making process, it is likely that there were earlier discussions on this matter at the highest level (although Kuwait, Oman and Qatar reportedly expressed reservations about the move, preferring a limited membership, like that of Iraq and Yemen, confined to cultural and sporting events). Previously, Jordan had shown interest in joining the bloc, but its

Fabio Scacciavillani

Fabio Scacciavillani is Chief Economist of the Oman Investment Fund and member of its Investment Committee. In this role, he develops forecasts, conducts analyses of global economic trends, and contributes to decide OIF’s asset management strategy. Previously he served as Director of Macroeconomics and Statistics at the Dubai International Financial Centre; Executive Director at Goldman Sachs; Senior Economist and Adviser at the European Central Bank and held various positions at the International Monetary Fund. He has published several papers and is frequently quoted on international and regional media. He holds a Ph.D. in Economics from the University of Chicago.

Executive Insight – The GCC expands

You may also like