Bahrain will host a major conference next April aimed at building business links between the Gulf Cooperation Council (GCC) states and the European Union (EU). The conference could pave the way for a free trade agreement (FTA) between the two common markets, Bahrain’s Gulf Daily News reports.
Crans Montana Forum Middle East (CMFME), a Swiss think-tank, and the Federation of GCC Chambers of Commerce, have formed a forum under the patronage of Bahraini Prime Minister Sheikh Khalifa Bin Salman Al Khalifa. The forum, titled The Central Europe and Eastern New Economies Strategies with GCC States, aims to meet annually in Bahrain.
More than 400 delegates from 44 countries are expected to take part in the first meeting of the forum in the Ritz-Carlton Bahrain from April 8 to 10.
CMFME signed a cooperation agreement with Group Eric Ohayon Communication (GEOC), a France-based publishing and research group with offices across the GCC countries. GEOC is the GCC chambers’ official delegate to the counterpart organization in Europe.
"Topics for discussion will include the GCC common market; ways of taking advantage of this for both businesses here and in Europe; and building links that will see the EU-GCC FTA come about in the future," said CMFME Managing Director, Osama Al Khajah.
Last week, Dr. Muhammed Khalfan Bin Kharbash, the United Arab Emirates’ State Minister for Financial and Industrial Affairs, said that in 2008 the GCC will finalize Free Trade Agreements (FTAs) with China, India, and the European Union. The FTAs will boost industrial cooperation, trade, and business, said Bin Kharbash.