The number of Persian Gulf Countries is eight. Seven Arab countries, Iraq, Kuwait, Saudi Arabia, Bahrain, Qatar, UAE, and Oman are located on the western bank of the Persian Gulf, and Iran is located on the eastern side of the Gulf.
Six of the seven Arab countries, including Iraq, are members of the Cooperation Council for the Gulf (GCC). The Gulf States, whose official language is Arabic, represent Eastern Arabia geographically. Saudi Arabia, Kuwait, Qatar, and UAE, including Iraq, are part of the Petroleum Exporting Countries (OPEC). Even with Gulf Countries Iran, Iraq, Kuwait and Saudi Arabia, Venezuela is the founding member of the intergovernmental OPEC Organization.
Saudi Arabia is recognized as the actual leader of the OPEC Organization in the Global Petroleum Producing and Exporting Countries. Within the context of the Global OPEC Corporation, Saudi Arabia is the world’s largest producer of classical crude oil, and Qatar still maintains its first position on the basis of exports of Liquefied Natural Gas (LNG) hydrocarbon products.
In the recent years, the economic problems and financial crises that have emerged as a result of the decline in global crude oil prices, which constitute the commercial revenues of the countries up to the Indian Ocean, are likely to be overcome in the short term.
However, the fact that global hydrocarbon prices tariffs, which are evaluated within the framework of the important financial resources required for the sustainable development of the global crude oil exporting countries and the national equivalent budget revenues, are in a declining trend and that the Persian Gulf Countries are in the context of fiscal discipline, the possibility of radical change, transformation and transformation degree of strengthening.
Gulf Cooperation Council
The Gulf Cooperation Council was launched in Abu Dhabi on 25 May 1981 with the participation of its members in Saudi Arabia, Bahrain, United Arab Emirates, Oman, Kuwait, and Qatar. The reason for the emergence of the idea of the Gulf Cooperation Council in 1981 was the Iranian Revolution and the Iran-Iraq War. Abdul Latif bin Rashid Al Zayani has been the Secretary General of the Council in Riyadh since 2014.
The Gulf Cooperation Council is a regional organization that brings together countries with common historical, geographical, cultural, religious and social characteristics. It aims to create a regional power by establishing similar regulations in economic and financial affairs, trade, customs and communication, education and culture, social and health affairs, information and tourism, and administrative affairs of the member countries.
Other objectives are to promote scientific and technological progress in the fields of industry, mining, agriculture, water, and animal resources, to conduct scientific research, to create joint ventures and to increase private sector cooperation for the benefit of the public.
The Gulf Cooperation Council countries created a common defense force in 1984. The Gulf Cooperation Council’s joint army, also known as the Peninsula Shield Force, organizes military exercises. In 1983, the Gulf Cooperation Council Free Trade Area was established; In 2003, the Gulf Cooperation Council Customs Union was introduced; In 2008, the common market was introduced.
Saddam Hussein thought that Kuwait was a province of Basra and therefore Basra belonged to the Iraqi government and he invaded Kuwait on 2 August 1990 with this in mind. On the invasion of Kuwait by Iraq, the United States, the United Kingdom, France, Saudi Arabia, Syria and Egypt, including 37 coalition member countries, has declared war on Iraq. This war is referred to as the history of the Gulf War, the First Gulf War or the Operation Desert Storm.
On August 2, 1990, Iraq’s intervention in Kuwait attracted the reaction of major states. As a result of these responses, a number of economic embargoes were imposed on Iraq by members of the United Nations Security Council. US President George Bush sent his troops to Saudi Arabia and requested military assistance from other member states.
At the request of the United States, the largest coalition force was established after World War II on the basis of coalition troops and participating countries. In fact, Saudi Arabia has undertaken 36 billion dollars of the war’s costs of $ 60 billion. In addition, the live broadcasts of the gulf battle has revolutionized the history of TV. The operation began on 17 January 1991 with air operations to remove the Iraqi forces in Kuwait, and then on 24 February land operations were carried out. Approximately four days after the ground operation, Iraq surrendered and the treaty was signed.