The study Oil, Industrialization and Development in the GCC countries is a modest attempt to objectively study the above aspects in the GCC countries. It analyzes the historical and political reasons leading to the evolution of GCC. In the 'formation of GCC an element of inherent strength isthe recognition and acceptance of Arab brotherhood and fraternity by the people in the larger contexts of Arab nationhood. Various developments resulting in the formation of GCC trace back to 1976 initiative by Sultan Qaboos to call a meeting of the foreign ministers of Iran, Iraq, Kuwait, Saudi Arabia, Bahrain, Qatar, United Arab Emirates and Oman to discuss the regional security and defence policy. The second attempt, the same year was by Sheikh Jaber al Ahmad al Sabah with the proposal for the formation of a Gulf union with the_ objective of realizing cooperation in all economic, political, educational and informational fields. Developments in the area like the deposition of the Shah of Iran in 1979; the installation of the revolutionary regime of Ayatollah Khomeini, the invasion of Afghanistan in December by the former USSR and the outbreak of the war between Iran and Iraq in September 1980 provoked the formation of the GCC rolling on the plans for the past many years. In February 1981, foreign ministers of the six countries held a meeting in Riyadh and on May 25, 1981, the GCC was created by signing of the Charter.

The study Oil, Industrialization and Development in the GCC countries is a modest attempt to objectively study the above aspects in the GCC countries. It analyzes the historical and political reasons leading to the evolution of GCC. In the 'formation of GCC an element of inherent strength isthe...