European Union, Gulf states meet over free trade agreement

Member states of the Gulf Cooperation Council (GCC) and of the European Union (EU) are meeting in the Spanish city of Granada this February 27-28 to discuss a projected free trade agreement between the two groupings now that the GCC has decided to enforce, as of next year, a customs union and a single currency by 2010.

These two measures were conditions set by the EU to conclude a free trade agreement, which has been under discussion for over 13 years.

Participants are scheduled to discuss other issues, mainly the middle east, global terrorism and means of consolidating GCC-EU economic ties. Talks in Granada are also expected to deal with the Arab-Israeli conflict, human rights, mass-destruction weapons, and terrorism.

The meeting is held annually in accordance to an agreement, signed in 1988. The CCG comprises Saudi Arabia, Kuwait, United Arab Emirates, Qatar, Bahrain and Oman.