European investments in Gulf not exceeding one percent

Published October 23rd, 2000 - 02:00 GMT

The Emirates Undersecretary of Economy and Commerce, Abdullah Al-Tareefy, was quoted in Al-Bayan newspaper, stating that the Arab Gulf Cooperation Countries (AGCC) strive to enhance their incoming European investments.  


Al-Tareefy added, that these are still too low, with their total value not exceeding one percent of the foreign investments to the AGCC. Moreover, the official stated that the trade balance between the AGCC and the European Union has reflected a $17 billion surplus in favor of the EU.  


The Gulf and European businessmen and economists are scheduled to meet in the European Gulf Summit in Dubai during the period of October 8-9. — (Albawaba-MEBG)

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