UAE Aims to Revive Trade Talks with EU by Year-End

UAE, 23 July, 2024 : The UAE is aiming to restart trade negotiations with the European Union by the end of this year, according to Trade Minister Thani bin Ahmed Al Zeyoudi. With current EU-Gulf Cooperation Council (GCC) talks stalled, the UAE has suggested starting separate bilateral talks with the EU, receiving support from several EU members.

Al Zeyoudi expressed optimism about the possibility of bilateral talks, noting that either EU-GCC or EU-UAE negotiations would be beneficial. The UAE has long supported deeper EU engagement in the Gulf region.

Trade discussions between the EU and GCC began in 1990 but were suspended in 2008. The GCC, which includes the UAE, has been slow to secure trade agreements, with a recent pact with South Korea finalized last year after 16 years of negotiations.

The UAE is also close to finalizing a free trade agreement with the Eurasian Economic Union, which includes Russia and Belarus, by year-end. Al Zeyoudi emphasized that this will not hinder the UAE's efforts to strengthen its relationship with the EU.

Source : www.zawya.com