Latest news with #EU-Gulf
Saudi Gazette
5 days ago
- Business
- Saudi Gazette
EU launches talks with GCC countries for bilateral strategic agreements
BRUSSELS — The European Commission and the High Representative have welcomed the European Council's decision to authorize the opening of bilateral negotiations with each of the six Gulf Cooperation Council (GCC) countries — Saudi Arabia, the UAE, Qatar, Kuwait, Bahrain, and Oman — with the aim of concluding Strategic Partnership Agreements (SPAs). The proposed SPAs are designed to establish modern, ambitious, and comprehensive frameworks for cooperation, tailored to the EU's shared priorities with each GCC partner. The move follows the 2022 Joint Communication on a Strategic Partnership with the Gulf and builds on momentum from the October 2024 EU–GCC Summit in Brussels. The agreements are set to cover a broad range of sectors, including foreign policy, security, justice, trade and investment, climate and energy, digital transformation, education, culture, and enhanced people-to-people engagement. Brussels described the SPAs as a strategic shift in EU-Gulf relations, positioning them to address mutual challenges and unlock shared opportunities across the rapidly evolving Middle East region. Negotiations are expected to begin soon, with the order and pace determined by each GCC country's level of EU emphasized that these new SPAs will complement existing regional and bilateral cooperation frameworks, including Free Trade Agreement talks already underway. — SG
Al Etihad
6 days ago
- Business
- Al Etihad
European Commission welcomes adoption of EU mandate to launch negotiations with GCC countries
19 July 2025 00:56 BRUSSELS (WAM)The European Commission and the High Representative welcomed the European Council's decision authorising them to enter into negotiations with each of the six Gulf Cooperation Council (GCC) countries - Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates - ith the aim of concluding bilateral Strategic Partnership Agreements (SPAs).The aim of the SPAs is to provide for an ambitious, modern, comprehensive and effective framework for bilateral cooperation tailored to the shared priorities and objectives of the EU and each respective GCC is in line with the efforts to enhance our relations with GCC partners set out in the 2022 Joint Communication on a Strategic Partnership with the Gulf and the October 2024 EU–GCC Summit in negotiation frameworks cover a wide range of topics, including foreign and security policy, justice and law enforcement, trade and investment, energy and climate, digital transformation, environment, connectivity, education, research and innovation, culture, and enhanced people-to-people SPAs will mark a turning point in the relations with Gulf partners, being truly strategic partnerships, addressing common challenges and harnessing joint opportunities across the rapidly evolving Middle East will start as soon as possible. The order and pace of negotiations will follow the expression of interest from the side of the partners.''There is huge untapped potential in the EU's relationship with the Gulf region. As of today, we will negotiate bilateral Strategic Partnership Agreements with the six Gulf partners. These should bring many mutual benefits across a wide range of priority areas, from increasing economic diversification to jointly tackling security challenges, and working together on digitalisation and connectivity. "We are beginning a new era of enhanced EU-Gulf cooperation," said Kaja Kallas, High Representative for Foreign Affairs and Security Policy/Vice-President of the European to Maroš Šefčovič, Commissioner for Trade and Economic Security; Interinstitutional Relations and Transparency, the Strategic Partnership Agreements with the GCC countries will provide a major boost to our trade and investment relations, creating new opportunities for businesses, enhancing market access, and promoting economic growth. We can unlock the full potential of our economic partnership and strengthen our position as a global trading Šuica, Commissioner for the Mediterranean said: ''Our partnership with the GCC partners is built on mutual respect and shared objectives. Through the Strategic Partnership Agreements, we aim to take our cooperation to the next level. We are deepening and widening our bilateral relations in a wide array of areas putting always people at the center. "These partnerships will also allow for strengthening our cooperation at regional level to build peace and promote stability and prosperity in the broader Middle East.''
United News of India
29-05-2025
- Business
- United News of India
EU, UAE launch free trade talks amid US tariff pressure
Brussels, May 28 (UNI) The European Union (EU) and the United Arab Emirates (UAE) have formally launched negotiations for a bilateral Free Trade Agreement (FTA), marking a potential breakthrough towards the EU's first comprehensive trade deal in the Gulf region, said the European Commission on Wednesday. This initiative also aims to expand further the EU's global trade network, which currently comprises 44 agreements with 76 countries, said the Commission. According to a press release of the Commission, Commissioner for Trade and Economic Security Maros Sefcovic and UAE Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi met in Dubai to reaffirm their shared vision for the agreement and agree on a roadmap, with substantive work expected to begin as early as June. The first meetings of negotiating teams will focus on reducing tariffs on goods and facilitating services, digital trade and investment flows. Talks will also explore ways to boost trade in strategic sectors, such as renewable energy, green hydrogen and critical raw materials. Sefcovic emphasized that a bilateral FTA would unlock "tremendous business opportunities" for both European and Emirati enterprises, while also bolstering the EU's regional engagement with Gulf Cooperation Council (GCC) member states. European Commission President Ursula von der Leyen hailed the launch of the talks as a "significant milestone," noting that the agreement would deepen EU-Gulf ties, create new opportunities for European businesses, and strengthen cooperation in key areas such as renewable energy and digital technologies. To address the uncertainty of US trade policy, the EU is strengthening cooperation with other economies to promote trade diversification and reduce its reliance on the United States. Last Friday, US President Donald Trump announced that he is "recommending a straight 50 percent Tariff on the EU, starting on June 1, 2025." But after a phone call with von der Leyen on Sunday, he agreed to postpone the planned tariff increase until July 9. On Tuesday, Trump welcomed the EU's decision to proceed with negotiations, calling it a positive step, but he again warned that he would enforce trade measures if a deal is not reached. UNI XINHUA AKT BM
The Star
28-05-2025
- Business
- The Star
EU, UAE launch free trade talks amid U.S. tariff pressure
BRUSSELS, May 28 (Xinhua) -- The European Union (EU) and the United Arab Emirates (UAE) have formally launched negotiations for a bilateral Free Trade Agreement (FTA), marking a potential breakthrough towards the EU's first comprehensive trade deal in the Gulf region, said the European Commission on Wednesday. This initiative also aims to expand further the EU's global trade network, which currently comprises 44 agreements with 76 countries, said the Commission. According to a press release of the Commission, Commissioner for Trade and Economic Security Maros Sefcovic and UAE Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi met in Dubai to reaffirm their shared vision for the agreement and agree on a roadmap, with substantive work expected to begin as early as June. The first meetings of negotiating teams will focus on reducing tariffs on goods and facilitating services, digital trade and investment flows. Talks will also explore ways to boost trade in strategic sectors, such as renewable energy, green hydrogen and critical raw materials. Sefcovic emphasized that a bilateral FTA would unlock "tremendous business opportunities" for both European and Emirati enterprises, while also bolstering the EU's regional engagement with Gulf Cooperation Council (GCC) member states. European Commission President Ursula von der Leyen hailed the launch of the talks as a "significant milestone," noting that the agreement would deepen EU-Gulf ties, create new opportunities for European businesses, and strengthen cooperation in key areas such as renewable energy and digital technologies. To address the uncertainty of U.S. trade policy, the EU is strengthening cooperation with other economies to promote trade diversification and reduce its reliance on the United States. Last Friday, U.S. President Donald Trump announced that he is "recommending a straight 50 percent Tariff on the EU, starting on June 1, 2025." But after a phone call with von der Leyen on Sunday, he agreed to postpone the planned tariff increase until July 9. On Tuesday, Trump welcomed the EU's decision to proceed with negotiations, calling it a positive step, but he again warned that he would enforce trade measures if a deal is not reached.
