European Union-Gulf Cooperation Council FTA

Description: European Union-Gulf Cooperation Council Cooperation Agreement

The European Union-Gulf Cooperation Council Cooperation Agreement would provide a progressive and reciprocal Trade in products and services liberalisation.

1. The European Union established trade relations with the countries of the Gulf Cooperation Council (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates) through a Cooperation Agreement in 1988.
2. All the six Gulf Cooperation Council (GCC) economies benefit from a preferential access to the markets of the European Union under the Generalised System of Preferences (GSP)

International trade in goods (Euros).

1. The European Union bilateral trade with the six countries of the Gulf Cooperation Council has been increasing, total trade was 79.7 billion Euros
2. European Union exports of products to the Gulf Cooperation Council: 57.8 billion
3. EU imports of goods from the Gulf Cooperation Council: 21.8 billion

Member Countries of the European Union: Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, France, Estonia, Finland, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain and Sweden.

United Kingdom (non-EU member, BREXIT).

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