GCC bound to become eighth largest economic bloc
GCC secretary-general Abdul-Rahman bin Hamad al-Attiya has said that with the economic complementarities and cooperation among its members, the GCC is bound to become the eighth largest economic bloc in the world, with a GDP of $2 trillion by 2020.
The GCC steel trade is expected to cross $200bn in 2010 according to latest studies, with the demand on steel witnessing a huge increase due to the ongoing construction boom and numerous project launches taking place in the region.