DOHA: Experts see large-scale mergers of GCC firms and prices of commodities and services coming down in the region substantially after GCC companies are allowed to operate regionally.
Qatar is taking steps to enforce a law to permit companies from other GCC states to set up operations in the country.
The Advisory Council recently approved the draft of a relevant law and forwarded it back to the State Cabinet. It is expected that the law would see the light of day soon.
It was decided at a summit of the GCC leaders to allow GCC firms to operate regionally and some GCC states have already enforced laws to that effect.
Experts told a local Arabic daily that they see the proposed law as helping enhance the quality of commodities and services in Qatar as a result of permitting GCC companies to set foot here.
"The private sector would become more competitive and prices would come down as a result," said an expert.
Another expert said that he saw GCC firms offering similar products or services seeking mergers after the law is implemented.
The move would help set up a regional common market and facilitate the launch of a common GCC currency, said the experts.
© The Peninsula 2011
