The EC told about negotiations with the Arab monarchies on a free trade zone

The European Union (EU) and the Cooperation Council for the Arab States of the Persian Gulf (GCC) are discussing the possibility of creating a free trade zone, at the expert level there are negotiations on the convergence of positions. European Commission (EC) spokeswoman Paula Pinho told Izvestia.

"The EU and the GCC were negotiating a Free Trade Agreement, but they were suspended in 2008, mainly due to different levels of ambition on key points. Discussions at the expert level have resumed to improve mutual understanding of positions with a view to possibly negotiating a trade agreement that will address issues of mutual interest," Pinho told the paper.

According to her, the talks are being held within the framework of the implementation of the provisions of the "Joint Communiqué on Strategic Partnership with the Gulf Region" of May 2022, as well as the declaration of the EU-GCCC summit of October 2024.

As emphasized by the European Commission representative, these documents form a "comprehensive agenda for deepening cooperation", including in the areas of investment and trade.

"The EU and the UAE also continued to exchange views on the prospects for strengthening trade and investment relations and agreed to launch free trade negotiations," the EC said.

Read more in Izvestia's exclusive piece:

Tide to the Gulf: the EU and the monarchies are back to creating a free trade zone