Gulf economic sources demand a new strategy to establish a trade zone with the European Union

Gulf economic sources asked the Gulf Cooperation Council states to create a new strategy to determine the cooperation machinery with the European Union to stress on it to apply a fair formula toward establishing a free trade zone with the council's states.

The sources said that the European Union may establish a free trade zone with the cooperation council in the year 2005 yet it will be according to its conditions to serve the interests of the member countries in the European Union.

The sources considered that the European Union is not serious in holding the free zone with the Gulf Council states, referring to that such an agreement is not among its priorities because the European Union got the ultimate benefits in its commercial dealing with the gulf council's states outside the free trade agreement.

The sources accused the Gulf governments of not having neither the sufficient experiences nor the pressure tools to use to persuade the European side to change its position and they also accused the cooperation council of weak coordination among the council's states.