Date : 18/02/2013
BRUSSELS, Feb 18 (KUNA) -- The European Union Monday announced that
"informal contacts " between the European Union and Gulf Cooperation Council
negotiators on a free trade agreement continue to take place.
Negotiations for a free trade agreement with the EU were suspended by the
Gulf Cooperation Council in 2008, noted a press release on the EU's free trade
agreements.
In December 2011, the EU decided to begin talks on a Comprehensive Free
Trade Areas with Egypt, Jordan, Morocco and Tunisia, to "upgrade" the current
trade agreements with these countries.
The EU agreed on 29 November to start negotiations with Morocco soon.
Over the next two years, 90% of world market demand will be generated
outside the EU. That's why it is a key priority for the EU to open up more
market opportunities for European businesses by negotiating new Free Trade
Agreements with key countries, noted the EU press release.
"If we were to complete all our current free trade talks tomorrow, we'd be
adding to the EU economy 2.2% to our GDP, or 275 billion euro," it said.
The EU therefore has nine trade negotiations under way and several more
trade and development negotiations ongoing with countries around the world, it
added. (end)
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