Gulf Cooperation Council (GCC) comprises of six Arab states of the Persian Gulf. The GCC was formed in 1981 and the member countries are Saudi Arabia, Bahrain, Kuwait, Oman, Qatar and the United Arab Emirates. The GCC is a strategic union with many common political and economic objectives and aims to coordinate efforts to resist external intervention in the Gulf region. It was created in response to the outreach of the Iran-Iraq war. Headquartered in Riyadh, Saudi Arabia, the GCC aims to coordinate its operations in the area of agriculture, industry, investment, security, and trade. It has also established the Gulf Standards Organization in 1982 and the Gulf Investment Corporation in 1984.
The presidency of the Gulf Cooperation Council rotates yearly among members.
The GCC has several goals for the overall development of the region. The stated goals include formulating similar regulations in various fields such as economy, finance, trade, customs, tourism, legislation, and administration, fostering scientific and technical progress in industry, mining, agriculture, water and animal resources, establishing scientific research centers, setting up joint ventures, unified military presence in the Peninsula Shield, encouraging cooperation of the private sector and establishing a common currency by 2010.