| Publication | Emirates Business 24/7 | Circulation | 52420 |
| Country | United Arab Emirates | Page No. |
 10,11 |
| Language | English | Size | 99 cc |
| Section | Main | AVE | $4373.82 |
GCC to be $2trn economy in 10 years
January 18, 2010 | Part 2 |
The economies of the UAE and five other Gulf nations are projected to nearly double to $2Tn (Dh7.34Bn) in the next 10 years and this will bolster their position in the global economic system, a Saudi investment firm said yesterday. The combined gross domestic product (GDP) of the six Gulf Co-operation Council (GCC) countries, which control nearly 45% of the world's proven oil wealth, is estimated to reach around $1Tn in real terms in 2010, said NCB Capital, an affiliate of the Saudi National Commercial Bank. According to Proleads, the GCC countries are investing as much as $690Bn in 578 projects in the oil, gas and petrochemicals sector."
