EU sees trade deal with Gulf countries soon

The European Commission said yesterday it expected to complete a long-awaited trade agreement with a group of Gulf countries soon, after a round of technical negotiations reached completion last week.

"I welcome the constructive and positive atmosphere of (the) negotiations," EU Trade Commissioner Peter Mandelson said.

"I believe that we are now in a position to resolve final issues and complete an EU-Gulf Cooperation Council FTA (free trade agreement) deal in the near future," he said in a statement.

The GCC comprises Kuwait, Qatar, Oman, Saudi Arabia, Bahrain and the United Arab Emirates.

Talks between the group and the EU began in 1990 but were slowed by the GCC agreeing only in 1999 to move towards forming a customs union and a new EU negotiating strategy adopted in 2001 to include the services sector in the talks.

As well as seeking to boost trade and investment, the agreement would also cover political issues such as human rights, illegal immigration and the fight against terrorism, the EU statement said.

The two sides were due to meet for a further technical-level session of negotiations in February that might clear the way for a final deal, an EU official said.

The EU is seeking trade deals with several countries and regions around the world as well as trying to complete the World Trade Organisation's Doha round of negotiations to reduce barriers to commerce globally.