GCC Free Trade Agreements have been signed with several countries and trade groups across the world to enhance its position as a global trade hub and major destination for investments.

• Custom Union: GCC Custom Union.

• GCC: Gulf Corporation Council.

• GCC FTA: GCC Free Trade Area.

• EUCU: European Union Customs Union.

• EFTA: European Free Trade Association.

• WTO: World Trade Organization.

• TIFA: Trade and Investment Framework Agreement.

Encouragement of trade is one of the most important objectives of any economic group, be it in the form of a free trade area, a customs union, or an economic union. The increase of trade is a basic objective of establishing any customs union. Customs unions, according to economic theory, increase trade among members by eliminating or diminishing trade barriers. The increase of trade is the main influencing mechanism through which other objectives, such as increased specialisation, reduced prices, increased production efficiency and expanding the market, can be achieved.