- Negotiations
The European Union and the Gulf Cooperation Council signed an Economic Cooperation Agreement in 1988 which laid the framework for the elaboration of a bilateral free trade agreement between the two regional blocs. Formal negotiations began in 1990 and are still not concluded.
While the EU has powerful economic interests in liberalising investment rules in the Gulf States, so that EU corporations may participate directly in the region’s oil, banking, telecoms, port services and other industries, political issues have been publically blamed for blocking agreement. These include demands from the EU with regards to fulfilling standards of democracy and human rights, as well as clauses on cooperation against terrorism and weapons of mass destruction. Human rights groups, such as the International Federation for Human Rights, have urged the EU to insist on respect for freedom of press, women’s rights and labour rights of migrant workers in the Gulf countries in return for any trade concessions granted through the FTA.
At the end of 2008, the GCC formally announced it was suspending the trade talks due to the EU’s insistence on political demands.
last update: May 2012
photo: European External Action Service - EEAS/CC BY-NC 2.0
2-Dec-2024
AGBI
European and Gulf officials are holding “informal” efforts to “revive” and even “upgrade” negotiations over a free trade agreement between the two blocks.
2-Dec-2024
Gulf Times
Qatar has called for expediting negotiations on a free trade agreement between the Gulf Co-operation Council or GCC and the European Union.
16-Oct-2024
Reuters
Talks on an EU-GCC free trade agreement, which began 35 years ago, have been suspended since 2008. The UAE has urged the EU to start talks on a separate trade pact with it.
20-Sep-2024
Bloomberg
The European Union is considering working toward a trade deal with the United Arab Emirates as the 27-member bloc seeks to cooperate more with the Gulf states on issues including energy and security.
23-Jul-2024
Euractiv
The United Arab Emirates hopes to reactivate trade talks with the European Union by the end of the year, the UAE trade minister said, and is optimistic the talks would be bilateral.
8-May-2024
Arabian Business
The EU would be interested in a UAE free-trade deal if talks for a GCC-wide agreement do not progress, according to a top official.
21-Nov-2022
albawaba
“The GCC EU FTA has been stalled for almost 30 years – a situation that does not reflect the strategic relationship between the GCC and the EU," said GCC secretary-general.
26-Aug-2020
MENAFN
The European Union’s Trade Commissioner called for the resumption of the stalled EU-GCC Free Trade Agreement negotiations.
19-Feb-2019
The National
EU commissioner Phil Hogan met UAE ministers to discuss the reopening free trade negotiations with the Gulf states.
7-Feb-2017
Gulf Times
Private sector leader Qatar Chamber is hoping that talks on a free trade agreement (FTA) between the European Union and the Gulf Cooperation Council would resume.
