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Early GCC-EU trade pact urged

Gulf Daily News, Bahrain

Early GCC-EU trade pact urged

11 April 2008

MANAMA: The Federation of the GCC Chambers is inviting the European Union and the GCC to speed up signing the Free Trade Agreement (FTA) between the two blocs.

The federation yesterday expressed its gratitude and appreciation to Prime Minister Shaikh Khalifa bin Salman Al Khalifa for his patronage of the Crans Montana Forum which closed yesterday at the Ritz-Carlton Bahrain, Hotel and Spa.

The federation emphasised the importance of speeding up the process to sign the FTA between GCC and the EU, in order to boost the economic relations between the two blocs.

It also stressed the importance of taking advantage of the opportunities available to the EU and the GCC, as well as stressing the importance of the private sector in the GCC and the EU to take the advantage of the memorandum of understanding that has been signed between the two blocs last October.

Qatar Chamber of Commerce and Industry director-general Dr Khalid Al Hajri said a number of events will be organised by federation with the collaboration of Euro chambers on the concentration of the legislation and regulations related to imports and exports of GCC and European products, and will attend the Gulf European Exhibition which will be held in London in November.

There will also be visits by Eurochambers to Qatar, Kuwait, Saudi Arabia, Oman and UAE next month.

The federation plans to organise a GCC-European Economic Forum which will be held in Doha in the first quarter of next year, and the GCC-European Exhibition which will be held in Saudi Arabia in the first half of next year.