The unified economic agreement between the countries of the Gulf Cooperation Council was signed on Nov. 11, 1981 in Riyadh. Among the stated objectives are: formulating similar regulations in various fields such as economy, finance, trade, customs, tourism, legislation, and administration; fostering scientific and technical progress in industry, mining, agriculture, water and animal resources; establishing scientific research centers; setting up joint ventures; unified military presence; encouraging cooperation of the private sector; strengthening ties between peoples and establishing a common currency. __