Experts Disagree on Monetary Unit of Persian Gulf Countries

Azerbaijan, Baku 11 January / corr Trend R.Hafizoglu / The experts disagree on the use of Gulf dinar as a monetary unit of Persian Gulf countries and transition to common market system.

According to Al-Jazira TV, the Persian Gulf countries discussed the transition to common market system from 2008 and the putting gulf dinar into circulation in the meeting in Doha.

"Putting Gulf dinar into circulation and the transition of the Persian Gulf countries into common market system will be failure", the Turkish political expert Akif Emre said Trend in a telephone interview from Istanbul. "The significant part of Persian Gulf country economies is built on the oil. Though these countries can pursue independent policy both from military and political viewpoint they are still dependent on US and Europe," political expert said.

Iran's invitation to the meeting can be assessed as follows; Persian countries partly take into the consideration Iran's interests, Emre said. "Persian countries do not have political will. Even if the Gulf dinar is put into circulation, it can not rival with USA dollar and euro," political expert said.

The putting of Gulf dinar into circulation is a successful step, Abdullah al-Juburi, the Director of "Al-Iraq Press" agency, political expert said. "The Persian countries have rich oil field and considered to be strategic territories and it means the power which may influence world policy," political expert said Trend in a telephone interview from London on 12 January. The Persian countries are situated at the junction of Europe and Asia and that why they play an important role in world trade, political expert said. "The last meeting of the Persian Gulf countries held in Qatar is a step to free these countries from the dependence of USA dollar and euro," Abdulla al-Juburi said.

The Persian Gulf countries plan to influence region countries and world policy. "If we take into consideration the war which can erupt between US and Iran this step will reduce the dependence of region countries as much as possible at the beginning of the war. The invitation of Iran to this meeting can prove it," political expert said.

Oktay Hagverdiyev, the former head of the economic and monetary policy department of the Cabinet of Ministers of Azerbaijan, said that in case of absence of general money mass, currency unit of other Arab countries is used in the Persian Gulf countries without any obstacle. According to the experts, transition of the Persian Gulf Countries to common monetary unit is the demonstration of the political power of these countries.

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