Australia-GCC FTA: International Business Prospects and Limitations

Doren Chadee, Banjo Roxas () and Tim Rogmans
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Tim Rogmans: Zayed University

Chapter 6 in Prospects and Challenges of Free Trade Agreements: Unlocking Business Opportunities in Gulf Cooperation Council (GCC) Markets, 2015, pp 93-121 from Palgrave Macmillan

Abstract: Abstract This chapter summarises the main findings of the study and provides a number of recommendations to both businesses and policy makers so that the likely benefits of an eventual Australian-Gulf Cooperation Council (GCC) free trade agreement (FTA) can be optimised. The most common difficulties faced by Australian businesses are in the form of non-tariff barriers and local business practices which are deeply rooted in institutions, culture and history. For this reason, the study argues that in order for Australian businesses to fully realise the potential benefits of an eventual FTA, special considerations should be given to institutional reforms in the GCC as an integral part of the FTA framework. A FTA can serve as an effective mechanism for addressing institutional voids in smoothing the conduct of businesses between the two regions. The study also offers some practical recommendations to businesses in expanding into some of the growth sectors in the GCC in a post FTA era.

Keywords: Saudi Arabia; United Arab Emirate; Free Trade Agreement; Tourism Sector; Gulf Cooperation Council (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-47988-4_6

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DOI: 10.1057/9781137479884_6

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