LOC21:09
18:09 GMT
RIYADH, Jan 9 (KUNA) -- GCC Secretary General Abdullatif Al-Zayani said Monday trade exchange with the European Union (EU) has grown five folds over the past two decades to surpass 155 billion euros in 2015.
The EU is one of the strategic partners for the Gulf Cooperation Council (GCC), specially at the economic level because both sides have great economic potentials that could achieve many benefits for the two parties, Al-Zayani said in a speech before the GCC-EU Business Forum in Riyadh.
He said the gross domestic product of the six GCC countries combined exceeded USD 1.6 trillion, while value of annual imports and exports beyond USD trillion mark.
Al-Zayani said GCC was looking forward to hosting two major international evens, the 2020 Expo in Dubai and the World football Cup in Doha, Qatar, in 2022.
Investors expect growth in infrastructure investment in the next five years by USD 200 billion, he noted.
Al-Zayani said the GCC was keen on boosting its economic march, citing establishment of the economic and development authority, and the economic judicial authority.
The GCC-EU business forum aims at discussing investment opportunities in sustainable energy, logistic services in railroads, airports, smart cities and infrastructure. (end)
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