G.C.C., Iran Look to Sea Trade to Reduce Dependence on Oil
Continuing low oil prices have prompted Persian Gulf states to diversify their heavily petro-dependent economies. This issue is forcing the oil-rich states to invest and expand their potential as international trade hubs as a pathway away from the time bomb of single commodity exports. As many Gulf states have outlined in economic plans, as well as developed on the ground, maritime trade is an increasingly essential link connecting the Middle East to the global economy.
