The Member States of the GCC are Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates. In 2007, the EU’s investment in the Gulf region amounted to €2,5 billion.
Negotiations for a Free Trade Agreement between the EU and the Member States of the Gulf Cooperation Council (GCC) were relaunched in 2002. Since then, trade in services and investment have been part of the negotiations. The aim of a EU-GCC FTA is to ensure a comparable level of market access opportunities, and a progressive and reciprocal liberalisation of trade in goods and services. By taking into account the GCC countries’ rather high level of development, there is apart from Oman, great potential for stronger commitments by the GCC states.
(Source: European Commission)
For further details on the EU-GCC negotiations see