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officially Cooperation Council for the Arab States of the Gulf, organization (est. 1981) promoting stability and economic cooperation among Persian Gulf nations. Its members are Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates. In 2003 GCC members eliminated tariffs on trade between member nations and established a common external tariff. They have agreed to establish a broader economic union (including a single market and currency) by 2010. |
