While the international price of oil has been continuously skyrocketing for several recent years, the all-time highs for oil prices will possibly continue in the middle and long terms. After the arrival of newly high oil prices, immense oil money has poured into the Middle East. With the revival of the Middle Eastern economy based on the oil money, this region has become a cynosure of global economies. This study begins with a comprehensive analysis of the economic trends in the Gulf region and aims to suggest the direction of mid -and long- term trade policy toward the Middle East. In particular, this study analyzes the economic development strategies and economic outlook of the Gulf Cooperation Council (GCC) countries; the positions and policies of foreign economic cooperation of these countries; and the world's major economies' cooperative policies with the Gulf region. Finally, this report suggests mid - and long- term trade policy strategies for Korea toward the Gulf region. (The rest is omitted.)