Facilitating market development across the GCC

The Gulf Cooperation Council (GCC) is a regional intergovernmental political and economic union consisting of six Arab states of the Persian Gulf that aims to create a competitive economic environment that attracts foreign investment, spurs innovation, and drives economic growth. Formed in 1981, the GCC aims to achieve unity among its members based on their common objectives and similar political and cultural identities. The member states are Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates. The energy transition is a significant focus for the GCC, with member states investing heavily in renewable energy projects to diversify their energy portfolios and reduce dependence on fossil fuels. The GCC region is rich in critical minerals and hydrocarbons, which are essential for various industries, including technology, renewable energy, and manufacturing. Coordinated policies within the GCC are vital for managing these resources sustainably and efficiently. The GCC member states collaborate on strategies for the exploration, extraction, and processing of these critical minerals to ensure a stable supply for both regional and global markets. Countries like Saudi Arabia (as part of its broader Vision 2030 plan) and the UAE are leading the way with substantial solar, wind, and nuclear energy investments.