The GCC and the EU are getting closer to seal a free trade agreement after outstanding issues, including EU tariffs on exports of aluminum and petrochemicals, were resolved last week, a UAE ministry official was quoted as saying by the local press.
Abdullah Ahmad Al Saleh, assistant undersecretary in the Ministry of Economy, said both sides agreed on many issues in Brussels and a few outstanding issues are expected to be concluded next month in Riyadh.
GCC exports to the EU amounted to more than US$ 116 billion in the first nine months of 2005 compared with US$ 112 billion in 2004.
