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GCC members can not export to some European markets - Qatari minister
Economics    1/20/2008 9:30:00 PM
 
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) bmj.gb KUNA 202130 Jan 08NNNN
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