Cooperation Council for the Arab States of the Gulf in the context of "Riyadh"

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⭐ Core Definition: Cooperation Council for the Arab States of the Gulf

The Cooperation Council for the Arab States of the Gulf (Arabic: مجلس التعاون لدول الخليج العربيّة), also known as the Gulf Cooperation Council (GCC; Arabic: مجلس التعاون الخليجي), is a regional, intergovernmental, political, and economic union and military alliance comprising Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates. The council's main headquarters is located in Riyadh, the capital of Saudi Arabia. The Charter of the GCC was signed on 25 May 1981, formally establishing the institution.

All current member states are monarchies, including three constitutional monarchies (Qatar, Kuwait, and Bahrain), two absolute monarchies (Saudi Arabia and Oman), and one federal monarchy (the United Arab Emirates, which is composed of seven member states, each of which is an absolute monarchy with its own emir). There have been discussions regarding the future membership of Jordan, Morocco, and Yemen. Iraq is the only Gulf Arab state that is not a GCC member.

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Cooperation Council for the Arab States of the Gulf in the context of World Bank high-income economy

A high-income economy is defined by the World Bank as a country with a gross national income per capita of US$13,935 or more in 2024, calculated using the Atlas method. While the term "high-income" is often used interchangeably with "First World" and "developed country", the technical definitions of these terms differ. The term "first world" commonly refers to countries that aligned themselves with the U.S. and NATO during the Cold War. Several institutions, such as the Central Intelligence Agency (CIA) or International Monetary Fund (IMF), take factors other than high per capita income into account when classifying countries as "developed" or "advanced economies". According to the United Nations, for example, some high-income countries may also be developing countries. The GCC countries, for example, are classified as developing high-income countries. Thus, a high-income country may be classified as either developed or developing. Although Vatican City is a sovereign state, it is not classified by the World Bank under this definition.

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