Egypt, Gulf states states to start economic negotiations

The Egyptian daily Akhbar al-Youm said Saturday that negotiations will start in Riyadh on January 14, 2003 between Egypt and the Gulf member states (GCC) on a collective draft agreement on economic integration.

In its Saturday's issue the paper said it is proposed that this collective agreement will replace the bilateral free trade agreements between Egypt and each of Saudi Arabia, United Arab Emirates, Bahrain and Kuwait, which have not yet been implemented.

The paper indicated that the agreement covers the sectors of commerce, investment, finance, sciences, technology, transport, communications, industry, agriculture, waters, banking, stock market, energy and human development.