Brussels, 01/03/2002 (Agence Europe) - The 12th session of the Joint EU/GCC Council finished on Thursday in Grenada asserting its common interest in strengthening the political and economic dialogue by the two sides. According to the President of the EU Council, "the excellent atmosphere" which prevailed should allow for negotiations on a reciprocal free-trade agreement to be reached, in addition to the agreement signed in 1988 (see yesterday's edition of EUROPE page 2). The EU and the GCC also confirmed in a joint press release that they would work towards reinforcing co-operation by focusing on the energy sector and businesses, as well as increasing their trade links. The next Joint EU GCC council will take place in Doha (Qatar) in 2003. Meanwhile, the Joint Council has decided to arrange an experts' meeting in April in one of the Gulf States to jointly analyse the investment situation and the tendency of European investments in GCC countries to fall.
The parties agreed that the purpose of the experts' meeting would be to give the investment specialists on both sides, the possibility to exchange ideas to finding the means of encouraging reciprocal investments). According to the Presidency the Gulf States have stressed the importance of the introduction of the Euro.
A special welcome was reserved for the Saudi initiative for re-launching the peace process in the Middle East, which was described as encouraging. In their position of main donors of aid to the Palestinians, the EU and GCC have decided to co-ordinate their efforts. A number of other issues were raised (Iran, Iraq, the war against terrorism, nuclear non-proliferation, the banning of arms of mass destruction etc.), as well as internal developments (European Defence Policy and the promotion of human rights). The evolution of Bahrain towards a constitutional monarchy was also welcomed.