FTA between EU and the AGCC discussed

DUBAI — The long-pending free-trade agreement and bilateral trade relations between European Union (EU) and AGCC countries were highlighted at a Press meeting addressed by Peter Mandelson, European Commission's Trade Commissioner.

By A Staff Reporter

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Published: Sun 3 Apr 2005, 9:44 AM

Last updated: Thu 2 Apr 2015, 6:58 PM

The AGCC-EU Trade Agreement was initiated in 1990 and various discussions are going on as EU exports to the AGCC have been increasing since the past two decades.

Peter Mandelson spoke about the benefits of a free trade agreement between both sides as it would boost economic growth of this region and close co-operation between EU and Gulf nations will definitely help the mutual trade and political understanding.

He also stated that the UAE is the largest trade block in this region and it is encouraging that AGCC presented its negotiating mandate as it created a Customs Union in March this year.

Mandelson's talks focused on FTA and WTO issues and European Union is keen to foster economic and political integration with the Gulf countries and boost the mutual trade in a endurable way.

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