The European Union (EU)'s General Affairs Council (GAC) is expected to discuss in Brussels on Monday the launch of a possible new trade and cooperation agreement with Iran, according to an EU announcement.
The GAC, which is scheduled to meet on the foreign ministers' level is due to give the EU Commission the mandate to begin talks with Iran on the agreement. EU sources claim the mandate is of political significance and goes beyond trade and economy, according to IRNA.
The agreement, for the first time, will form contractual ties between the EU and Iran and open the door for EU companies to invest in the Islamic Republic.
Last November, the European Commission approved a proposal for negotiating directives for a trade and cooperation agreement with Iran.
Talks between the two sides will start after the council gives the mandate to the commission.
In addition, the EU foreign ministers are expected to review the situation in the Middle East, amongst other matters. (Albawaba.com)
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