An evaluation of regional convergence of lran and PGCC

The Persian Gulf Cooperation Council (PGCC) has a privileged position in the West Asia and North Africa region both in terms of the degree of economic integration and in terms of the level of income and economic welfare. It is expected that Iran's economic integration with the council will bring great economic benefits. Although the economic integration performance of the council is low in terms of the share of intra-regional trade, it shows a growing trend and with trade creation, it is also associated with an increase in economic homogeneity among members. Although the correspondence of these two indicators with the current economic situation of Iran shows less consistency and based on trade trends in the stage before the exchange of preferences, it has some evidence of trade diversion, but a more dynamic analysis of this trend and looking at other complementary capabilities of these economies, including some of the characteristics of natural business partners can confirm the great economic benefits of the both, which depends on the preparation of necessary measures in this regard.