LOC21:30
18:30 GMT
ABU DHABI, Jan 20 (KUNA) -- While European firms are being awarded handsome
business contracts in the Gulf Cooperation Council (GCC) members, the exports
of their GCC counterparts face great difficulties to reach European markets,
Qatari Deputy Prime Minister and Minister of Energy and Industry Abdallah Bin
Hamad al-Atiyah complained here Sunday.
He made the remarks during the first session of the 11th GCC
Industrialists' Conference.
The planned Free Trade Agreement (FTA) between the GCC and the European
Union (EU) could be deferred further due to unfair conditions attached by the
EU members, al-Atiyah predicted.
The dispute over the EU conditions could talk months before reaching a
final settlement of the issue, he pointed out.
As for the fluctuation of the oil prices, al-Atiyah said the world oil
market had sufficient supplies and the Organization of Petroleum Exporting
Countries (OPEC) need not to raise its output.
The cartel is scheduled to hold its ministerial meeting in February to
evaluate the supply and demand of the world oil market.
In his address to the opening session of the conference, Omani Minister of
Commerce, Industry and Minerals Maqbul Bin Ali Sultan asserted the necessity
of going ahead to iron out the trade differences with the EU.
The EU attached new conditions to the planned FTA relating the (EU) subsidy
for trade and investment, human rights situations (in the GCC members) and
combat against illegal immigration and terrorism, Sultan disclosed.
The GCC and the EU started the talks on the FTA in 1990 and held another
round of talks in 2001. (end)
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KUNA 202130 Jan 08NNNN