Kuwait and the Arab Gulf Co-operation Council (AGCC)

The formation of the Gulf Cooperation Council is an expression and extension of Kuwait's primary foreign policy goals. Kuwait had a prominent role in forming the AGCC when the late Amir of Kuwait, His Highness Sheikh Jaber Al-Ahmed Al-Jaber Al-Sabah, proposed the idea of its formation.

Created on February 4, 1981, the AGCC has based its work on these principles to intensify efforts towards broadening cooperation among its members. The Charter of the AGCC was signed by Kuwait, Bahrain, Qatar, the UAE, Oman and Saudi Arabia in May 1981. The AGCC groups together countries that are similar in culture, political structure and legal framework. The preferred approach of the AGCC States is political mediation, crisis management and balance of power politics. The Charter aims at establishing a free market aiming a currency union and free movement of labor among the member countries.

Objectives of the AGCC:

formulating similar regulations in various fields such as economy, finance, trade, customs, tourism, legislation, and administration;

fostering scientific and technical progress in industry, mining, agriculture, water and animal resources;

establishing scientific research centers;

setting up joint ventures;

encouraging cooperation of the private sector;

strengthening ties between their peoples; and

establishing a common currency by 2010.