Gulf investors are studying the possibility of establishing a logistics services company that would help streamline the flow of goods across the borders of the six-nation Gulf Cooperation Council (GCC).
A feasibility study is currently under way, said Ali Abdul Latif Al-Misnad, a board member of the Qatar Chamber of Commerce and Industry. He said investments in the services sector ranges between USD 50 billion and USD 100 billion.
The proposed company would regulate the activities of companies and institutions involved in the GCC transport sector and determine how to remove obstacles facing investors and would help create investment opportunities in the Gulf transport sector and boost the GDP of each participating country. Through this GCC investors would be able to facilitate the movement of goods across borders and promote products in the GCC markets.
Abdul Rahim Hassan Nagi, Secretary-General of the GCC’s federation of chambers, said the proposed company would not compete with services companies operating in the GCC region. According to him investors in the transport sector need to address obstacles in cross-border trade.