EU-GCC Relations
Building upon their relation established and manifested through the Global Chamber Platform, the Federation of GCC Chambers (FGCCC), and EUROCHAMBRES signed a Memorandum of Understanding to strengthen cooperation in October 2007.
The EU - GCC relations have a long history: a couple of years after the creation of the GCC both parties decided to stipulate their traditional bonds in a Cooperation Agreement and to both strengthen and broaden their relations.
Trade
Following the growing trade flows between the regions and as a consequence of the creation of the GCC Customs Union, the EU and the GCC are about to conclude a Free Trade Agreement which is meant to further enhance economic integration between the two regions. This agreement would form a stable basis for enhanced economic cooperation, covering goods, services and investment alike. EUROCHAMBRES calls upon the negotiating parties to conclude negotiations as soon as possible.
Chamber cooperation
Similarly, the relations between EUROCHAMBRES and the FGCCC are evolving: building upon the relations established through the Global Chamber Platform Declaration in 2002 both parties now signed a Memorandum of Understanding to further strengthen their cooperation. Common activities will comprise study visits, joint conferences and large scale business events, amongst others. Apart from brining together companies from both regions the main aim of the Memorandum is facilitating chamber to chamber contacts and the exchange of best practices.
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Contact: Freya LEMCKE |