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Australia-GCC FTA: International Business Prospects and Limitations

In: Prospects and Challenges of Free Trade Agreements: Unlocking Business Opportunities in Gulf Cooperation Council (GCC) Markets

Author

Listed:
  • Doren Chadee

    (Deakin University)

  • Banjo Roxas

    (Deakin University)

  • Tim Rogmans

    (Zayed University)

Abstract

This chapter summarises the main findings of the study and provides a number of recommendations to both businesses and policy makers so that the likely benefits of an eventual Australian-Gulf Cooperation Council (GCC) free trade agreement (FTA) can be optimised. The most common difficulties faced by Australian businesses are in the form of non-tariff barriers and local business practices which are deeply rooted in institutions, culture and history. For this reason, the study argues that in order for Australian businesses to fully realise the potential benefits of an eventual FTA, special considerations should be given to institutional reforms in the GCC as an integral part of the FTA framework. A FTA can serve as an effective mechanism for addressing institutional voids in smoothing the conduct of businesses between the two regions. The study also offers some practical recommendations to businesses in expanding into some of the growth sectors in the GCC in a post FTA era.

Suggested Citation

  • Doren Chadee & Banjo Roxas & Tim Rogmans, 2015. "Australia-GCC FTA: International Business Prospects and Limitations," Palgrave Macmillan Books, in: Prospects and Challenges of Free Trade Agreements: Unlocking Business Opportunities in Gulf Cooperation Council (GCC) Markets, chapter 6, pages 93-121, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-47988-4_6
    DOI: 10.1057/9781137479884_6
    as

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