Sunday, January 11, 2009

Gulf countries have suspended the creation of a single market with the EU.

Board of the Gulf Cooperation Council (Gulf Cooperation Council, GCC) has suspended negotiations with the European Union to establish a free trade zone, reported AFP. The reason was the demand to revise the European Union on human rights in the GCC. In response, the council said that the political aspects during the discussion of the trade agreement should not be discussed.
Negotiations to conclude a trade agreement and the establishment of a free trade zone between the GCC countries and the European Union maintained since 1988. According to the Prime Minister of Qatar Sheikh Hamad Bin Jassim (Sheikh Hamad bin Jassem), a trade agreement with the EU could be concluded as early as November 2008, but due to the increased requirements of the European Union that has not happened.
The composition of GCC comprises Bahrain, Oman, Qatar, Kuwait, Saudi Arabia and United Arab Emirates. Free Trade Area between the two countries was established in early January 2008. According to the agreement, citizens of countries that are members of the Board, were able to move freely, to live and work within the GCC.

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