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With reference to Gulf Cooperation Council (GCC), consider the following statements:
1 The Ministerial Council is the highest authority of the organization.
2. At present, GCC is currently India’s largest trading partner bloc.
Which of the statements given above is/are correct?
- a)1 only
- b)2 only
- c)Both 1 and 2
- d)Neither 1 nor 2
Correct answer is option 'B'. Can you explain this answer?
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Most Upvoted Answer
With reference to Gulf Cooperation Council (GCC), consider the followi...
Understanding the Gulf Cooperation Council (GCC)
The Gulf Cooperation Council (GCC) is a regional intergovernmental political and economic union consisting of six Middle Eastern countries: Saudi Arabia, Kuwait, the United Arab Emirates, Qatar, Bahrain, and Oman. Let’s analyze the statements regarding the GCC.
Statement 1: The Ministerial Council is the highest authority of the organization.
- This statement is incorrect. The highest authority of the GCC is the Supreme Council, which is composed of the heads of state of the member countries. The Ministerial Council, while important for decision-making and implementation, operates under the authority of the Supreme Council.
Statement 2: GCC is currently India’s largest trading partner bloc.
- This statement is correct. The GCC countries are indeed considered one of India’s largest trading partners, with significant trade in oil, gas, and various goods. The economic ties between India and the GCC nations have strengthened over the years, making it a crucial trading bloc for India.
Conclusion
Given the analysis above:
- Statement 1 is incorrect.
- Statement 2 is correct.
Thus, the correct answer is option b) 2 only. This highlights the importance of understanding the structures and trading relationships within international organizations like the GCC.
The Gulf Cooperation Council (GCC) is a regional intergovernmental political and economic union consisting of six Middle Eastern countries: Saudi Arabia, Kuwait, the United Arab Emirates, Qatar, Bahrain, and Oman. Let’s analyze the statements regarding the GCC.
Statement 1: The Ministerial Council is the highest authority of the organization.
- This statement is incorrect. The highest authority of the GCC is the Supreme Council, which is composed of the heads of state of the member countries. The Ministerial Council, while important for decision-making and implementation, operates under the authority of the Supreme Council.
Statement 2: GCC is currently India’s largest trading partner bloc.
- This statement is correct. The GCC countries are indeed considered one of India’s largest trading partners, with significant trade in oil, gas, and various goods. The economic ties between India and the GCC nations have strengthened over the years, making it a crucial trading bloc for India.
Conclusion
Given the analysis above:
- Statement 1 is incorrect.
- Statement 2 is correct.
Thus, the correct answer is option b) 2 only. This highlights the importance of understanding the structures and trading relationships within international organizations like the GCC.
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With reference to Gulf Cooperation Council (GCC), consider the followi...
Recently, India-Gulf Cooperation Council (GCC) decide to pursue resumption of Free Trade Agreement (FTA) Negotiations.
- Gulf Cooperation Council (GCC) is a political and economic alliance of six Middle Eastern countries—Saudi Arabia, Kuwait, the United Arab Emirates, Qatar, Bahrain, and Oman. The GCC was established in Riyadh, Saudi Arabia, in May 1981.
- Objective: The purpose of the GCC is to achieve unity among its members based on their common objectives and their similar political and cultural identities, which are rooted in Arab and Islamic cultures. The Presidency of the council rotates annually.
- Organizational structure:
- The Supreme Council is the highest authority of the organization. It is composed of the heads of the Member-States. Its presidency rotates periodically among the Member States in alphabetical order.
- The Ministerial Council: It is composed of the Foreign Ministers of all the Member States or other ministers deputizing for them. It meets every three months to implement the decisions of the Supreme Council and to propose new policy.
- The Secretariat General: It is the administrative arm of the alliance, which monitors policy implementation and arranges meetings.
India’s trade relations with GCC
- GCC is currently India’s largest trading partner bloc with bilateral trade in FY 2021-22 valued at over USD 154 billion.
- GCC countries contribute almost 35% of India’s oil imports and 70% of gas imports.
- India’s overall crude oil imports from the GCC in 2021-22 were about $48 billion, while LNG and LPG imports in 2021-22 were about $21 billion. Investments from the GCC in India are currently valued at over USD 18 billion.
Hence only statements 2 is correct.
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With reference to Gulf Cooperation Council (GCC), consider the following statements:1 The Ministerial Council is the highest authority of the organization.2. At present, GCC is currently India’s largest trading partner bloc.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer?
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