There is significant competition from producers in European Union (EU), Asia, Australia, New Zealand and, increasingly, from local and regional processors. Philadelphia, PA 19103 Among the GCC-5 countries, the United Arab Emirates (U.A.E.) Email: Food Export-Northeast, States: IN, IA, MN, MO, OK Among the GCC-5 countries, the United Arab Emirates (U.A.E.) So effectively the cost of importing to a buyer has now doubled, and also limits consumer spending. Dubai derives sizable revenue from the re-export business and invests heavily in infrastructure, while luring foreign investment and buyers. - Unifying the registration of pharmaceutical companies in GCC countries. The U.S.-Bahrain Free Trade Agreement (FTA) entered into force on August 1, 2006. Its primary decision-making entity is the Supreme Council, consisting of members’ heads of state. All GCC 5 countries experienced economic growth in 2018. Food Export–Midwest and Food Export–Northeast are equal opportunity employers and providers. With vast oil reserves and subsequent wealth, the GCC countries are some of the richest nations in the world. 1. Virtual Consultations Liberal climates towards foreign cooperation, investment and modernization result in extensive diplomatic and commercial relations with other countries. Download Full Report. HE Dr. Nayef Falah Mubarak Al-Hajraf, Secretary General of the Gulf Cooperation Council, received on Wednesday, 12 August 2020, in his office at the General Secretariat. Apryl King 215.599.9753. U.S. exports of consumer food products to the GCC-6 members decreased 3% to nearly US$1.7 billion in 2018. Food Export–Midwest and Food Export–Northeast prohibits discrimination in all its programs and activities on the basis of race, color, national origin, religion, sex, gender identity (including gender expression), sexual orientation, disability, age, marital status, familial/parental status, income derived from a public assistance program, political beliefs, reprisal or retaliation for prior civil rights activity. GCC countries involve all the Arab states of the Persian Gulf with the exception of Iraq, and it is a political and economic regional organization. In 2018 they began applying an additional 5% value added tax (VAT). Processed food products manufactured in any of these countries can be exported to other GCC countries duty-free. Live webinars and a library of 40+ recorded webinars (complimentary)  Chicago, IL 60606 USA The U.S. has Free Trade Agreements (FTAs) with two of the six GCC-6 countries. Within the U.A.E., Dubai is the country’s commercial center and the region’s trade hub. Other countries in the region and other Emirates in the UAE, particularly Abu Dhabi, the capital, are following Dubai’s lead and model to improve their infrastructure and attract business interests. Importers often want to start with small quantities and consolidate shipments, and often find there is a lack of interest from some U.S. exporters who are not willing to entertain small orders, as well as meet local labeling requirements. in particular; and a U.S. military presence in Kuwait and Qatar. 2. These diversified growth sectors, such as finance, logistics, aviation, communications, healthcare and tourism provide abundant business opportunities. The six counties of the Gulf Cooperation Council (GCC) are facing economic challenges on two fronts. Live webinars and a library of 40+ recorded webinars, Onboarding assistance with the Alibaba.com e-commerce platform, Featured Products in our U.S. Foodlink global newsletter. A regional organization was therefore necessary to sec… Efficient infrastructure (sea, land and air ports), large free trade zones and a strong business orientation make Dubai an important commercial center in the Middle East. Lead Qualification Service GCC countries The Gulf Cooperation Council (GCC) is a political and economic union of Arab states bordering the Gulf. Since the creation of the council in 1981 its membership has not expanded, with all members being Arab monarchies. Also referred to as the Arab Gulf Cooperation Council (AGCC). Opportunities and Challenges in the GCC-6 Region. While on the monetary policy side, the expected three rate hikes in the U.S. this year will translate into higher interest rates in Saudi given the U.S. dollar peg - this would raise the cost of borrowing for businesses and consumers alike. GCC is the acronym for Gulf Cooperation Council (or Gulf Co-operation Council). 309 W. Washington St., Suite 600 There is also the large Indian subcontinent population with easy access to "home grown" products and modest income. 1617 JFK Boulevard, Suite 420 Gulf Cooperation Council (GCC), political and economic alliance of six Middle Eastern countries that was established in 1981. Read more 12 August 2020. FAX: 215.829.9777 There is an increasing interest in U.S. products, as well as an increasing number of tourists to Bahrain, Oman and the U.A.E. The GCC’s activities have included joint security ventures and the formation of a customs union.

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