Brussels, 25/04/2008 (Agence Europe) - On Thursday 24 April, in Strasbourg, the European Parliament adopted a resolution prepared by the trade committee chaired by Helmuth Markov (GUE/NGL, Germany), approving the conclusion of a free-trade agreement (FTA) between the EU and the Gulf Cooperation Council (Saudi Arabia, Bahrain, United Arab Emirates, Kuwait, Oman and Qatar).
Although they say they are concerned by the “slowness” of the negotiations, the EP welcomes the important progress accomplished in 2007. Nevertheless, it calls on the parties to make more progress before the EU/GCC ministerial summit on 26 May.
In a chapter on market access, the EU underlines the importance of reciprocal efforts to reduce tariff and non-tariff barriers, as well as the reduction or elimination of quotas. It also highlights the importance of an FTA prioritising respect for intellectual property rights. The EP also underscores its concern with the risks of distorting trade, which in some countries are due to public subsidies and other advantages in relation to access to low priced raw materials on the world markets. It calls for a re-balancing of bilateral investment flows.
In a chapter on sectoral questions, the EP underlines the importance of ratification and application by GCC countries of international agreements against transnational organised crime, corruption and the protection of migrant workers' rights. The EP is encouraged by the efforts made for fighting against discrimination against women and say that an FTA requirement on the different parties ratifying and applying the fundamental ILO agreements is also needed. (E.H.)