[siddiquehabib]

GCC to sign economic accord with Pakistan

The Gulf Co-operation Council (GCC) will next week sign framework economic co-operation agreements with Pakistan and India the head of the oil-rich Gulf bloc said on Saturday.

The deals will pave the way for "launching negotiations to establish two free trade areas between the GCC and the two friendly countries", India and Pakistan, Secretary General Abdulrahman al-Attiyah said in a statement issued at GCC headquarters here.

Attiyah will visit India and Pakistan between August 24 and 27 to "participate in signing the two agreements", the statement added.

The Confederation of Indian Industry, a leading industry body, signed an agreement with the GCC last February aimed at boosting trade.

GCC member states Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates are also hoping to conclude a long-stalled free trade agreement with the European Union (EU).

EU Trade Commissioner Pascal Lamy said in June he hoped the EU and the GCC would forge the deal by the end of the year.

The two blocs signed a framework economic co-operation agreement in 1998 but have failed to strike a free trade pact.

Hmmm..... good wrk n well info.............

[salik]

Originally posted by siddiquehabib
GCC to sign economic accord with Pakistan

The Gulf Co-operation Council (GCC) will next week sign framework economic co-operation agreements with Pakistan and India the head of the oil-rich Gulf bloc said on Saturday.

The deals will pave the way for "launching negotiations to establish two free trade areas between the GCC and the two friendly countries", India and Pakistan, Secretary General Abdulrahman al-Attiyah said in a statement issued at GCC headquarters here.

Attiyah will visit India and Pakistan between August 24 and 27 to "participate in signing the two agreements", the statement added.

The Confederation of Indian Industry, a leading industry body, signed an agreement with the GCC last February aimed at boosting trade.

GCC member states Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates are also hoping to conclude a long-stalled free trade agreement with the European Union (EU).

EU Trade Commissioner Pascal Lamy said in June he hoped the EU and the GCC would forge the deal by the end of the year.

The two blocs signed a framework economic co-operation agreement in 1998 but have failed to strike a free trade pact.

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[sarah_1]

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