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Gulf Cooperation Council Faces the Risk of Disintegration and Division: Financial Times

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June ,30 \NewNewss

The Financial Time journal considered, Qatari crisis threatens the remaining of Gulf cooperation council (GCC)

The journal indicated, GCC faces the risk of breaking up and compartmentalizing . Saudi crown prince, Mohammed bin Salman, exalted the worthy of the Council when he said ” the council would classify within strongest economic councils in the world , if it works by correct way in the coming days” .

After seven months of comments by the Saudi crown prince at a meeting of the Riyadh-based Economic and Development Council, the only effective Arab economic council in the world faces the risk of disintegration and division after Saudi Arabia and some Gulf states have imposed a blockade on Qatar, the journal followed .

It added , Saudi and other Gulf countries including Bahrain and Emirate have accused Qatar of financing terrorism, so they intent to sever diplomatic relations with Qatar as well preventing means of transportation among them where this step will threat the bases of Gulf cooperation Council .

It glanced that regardless of the implications of the ban on Qatar , the decision will affect Saudi wholesale traders who have long been used to send their goods across borders ,as well as the bank experts who have been used to go from Emirates to Qatar which considers one of the biggest gas export that experiences working of several territorial company within an preparations for world Cup Football.

The journal concluded, GCC was established in 1981 as one unit is suffering of reducing the produce oil these days . However, with shared producing is up to $ 1.3 trillion which means 36% of world oil store , the council which is one of the most important and rare councils in the region, has been weakened by conflicts and instability.

 

By:

Zainab Mohammad

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