Challenges and Opportunities for Australian Businesses in GCC

Abstract

This chapter reports the results of a survey of Australian businesses currently doing business in the Gulf Cooperation Council (GCC). The main purpose of the survey was to gain a better understanding of the challenges which Australian businesses face when engaged in international business activities such as exporting, importing and investing in GCC countries. The research assesses how the removal of internal and external trade barriers would likely benefit businesses. The findings suggest that the main benefits are likely to accrue to export businesses while the effects on import and investment are likely to be minimal. Export revenues are likely to increase by an estimated 20% under the scenario where there is a free trade agreement (FTA) between Australia and GCC.