World Trade Organization

Paper Summary:

The World Trade Organization (WTO) is a powerful force in global economics. The WTO plays a significant role in every industry including the oil industry. This paper investigates the WTO's impact on oil-producing countries (Gulf Cooperation Council) political economy as a strategic union. The discussion seeks to discover if they are better off working as a bloc of countries, or as individual nations.

Introduction
The GCC and the WTO
The GCC as a Bloc

From the Paper:

"The gulf Cooperation council was created in 1981 and composed of six old producing countries including Saudi Arabia, United Arab Emirates, Kuwait, Bahrain, Oman, and Qatar (Gulf Region 2004). The purposes of the organization are educational, political, economics, industry and security (Gulf Region 2004). The council was created to find the most beneficial ways to handle scarce resources. Accept for Saudi Arabia, all of the countries in the GCC are also members of the World Trade Organization (Gulf Region 2004)."

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