Eastern promise

Article Abstract:

Trade between the Gulf states and Asia has the potential to become vastly greater and more diverse than it now is. Already economic growth in Asia draws increasing amounts of Gulf oil, and China alone now uses 1 million more barrels of oil every two days than it did five years ago. The Gulf states generally run trade surpluses with Asia because Asian businessmen do not consider the Gulf a prime area. Many Gulf traders complain they are treated as second-class, and the Japanese lag in joint-venture projects, compared to Western countries.

PETROLEUM AND COAL PRODUCTS, Petroleum, Petroleum and Coal Products Manufacturing, International trade, Petroleum industry, International relations, Asia

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Private initiative

Article Abstract:

The Gulf states as a group intend to privatize many of the govt-owned firms that have been successful thus far but that private enterprise might manage better. Stagnant oil revenues, infrastructure needs, and a rising population are forcing govts to explore ways to reduce their burdens and diversify the economy. While Saudi Arabia has no such plans, Oman pioneered privatization regionally, Bahrain and Kuwait are following suit, and Dubai has launched an investment company. Gulf states could offer $50 billion in assets by 2000.

Economic policy, Privatization, Privatization (Business)

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Arab-Asia axis

Article Abstract:

The Gulf states are experiencing an economic boom. Development projects are being implemented by the governments of the six Arab states in the Gulf region. Foreign companies find the Gulf states a good investment area because of tax concessions and duty free facilities for goods coming to and from these countries. Infrastructure projects are expected to increase while banks and other financial institutions are benefitting from the excellent investment climate in the region.

Foreign investments, Economic aspects, Persian Gulf region

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