ABU DHABI, Dec. 18 (Xinhuanet) -- Leaders of the Gulf Cooperation Council (GCC) members gathered here Sunday afternoon to discuss pressing regional issues and economic integration among GCC members.
  

President of the United Arab Emirates (UAE) Sheikh Khalifa bin Zayed al-Nahayan attends the 26th Gulf Cooperation Council (GCC) annual summit opened in Abu Dhabi, Dec. 18, 2005. (Xinhua photo)

    The Emirates Palace, venue of the summit, was heavily guarded by security forces of the United Arab Emirates (UAE) as terror attacks have been rampant in the Middle East.

   Well-informed sources said during the two-day summit, the leaders are expected to focus on ways to push forward the slow-paced process of GCC economic integration, in addition to Iran's nuclear file, the Iraq issue and the Palestinian-Israeli conflict.

   The bloc launched a customs union in 2003 and is trying to achieve a common market by 2007 and a single currency by 2010.

  

Saudi King Abdullah bin Abdul Aziz attends the 26th Gulf Cooperation Council (GCC) annual summit opened in Abu Dhabi, Dec. 18, 2005. (Xinhua photo)

    However, the summit is likely to look into a possible extension of the transit period of the customs union, due to expire by the end of this year, by two years to 2007, since member states have not completed requirements for the full implementation of the union.

   The GCC, founded in 1981, is a regional political and economic alliance aimed at enhancing cooperation among its six member states, including Saudi Arabia, the UAE, Kuwait, Bahrain, Qatar and Oman.

   GCC foreign ministers met on Saturday to prepare for the agenda of the summit. Enditem