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Free Trade Talks Suspended Between Gulf and Europe

Dubai, UAE : 26 May 2010

Free trade negotiations between the European Union (EU) and the Gulf Co-operation Council (GCC) have been shelved as a result of disagreements which are proving hard to overcome.

The talks, between the GCC’s six member states and the EU’s twenty seven members, have been ongoing for the best part of the last twenty years, but a statement published on the GCC website announced they had come to an end for now at least. 

Abdul Rahman al-Attiyah, Secretary General of the GCC said there had been ‘no progress’ from the Europeans who still held their ‘previous position’ leading to the Council being forced to suspend further negotiations. 

It is thought that the talks have ground to a half because of dispute over petrochemical subsidies and the rights of foreign businesses to hold majority shares in Gulf companies.

Paul Holdsworth, Staff Writer, Gulf Jobs Market News
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