BRUSSELS – For the primary time, the member international locations of the European Union organized a bilateral summit at this time, Wednesday 16 October, with the six member international locations of the Gulf Cooperation Council. Concrete penalties from the assembly should not evident. Politically, nonetheless, the European try is to fix ties with a area of the world that has not adopted the West in denouncing Russia and above all to cooperate to keep away from “the conflagration of the region”.
More exactly, the summit should serve to relaunch the strategic relationship; work on higher cooperation to unravel the good challenges of the second, beginning with the local weather one; strengthen financial relations between the 2 blocs. By the best way, the primary European Chamber of Commerce within the area was just lately inaugurated in Riyadh (the place European investments rose from 20 billion euros in 2020 to 30 billion euros in 2022). A department in Bahrain can be anticipated to observe shortly.
The summit comes after High Representative for Foreign and Security Policy Josep Borrell appointed former Italian Foreign Minister Luigi Di Maio as particular envoy to the area in 2023. Over the final 5 years, the presence of the European Union has strengthened: the delegations have elevated from two to 4. The European Union is the Gulf Cooperation Council’s second largest buying and selling companion. In 2023, it accounted for 11.1% of complete Gulf Cooperation Council commerce.
The six member international locations of the Gulf Cooperation Council are Qatar, Bahrain, the United Arab Emirates, Saudi Arabia, Oman and Kuwait. In the face of rising financial relations, negotiations on a free commerce settlement nonetheless stay unfinished. The negotiations have lasted for 35 years. According to a European official, among the many many tough points are entry to public procurement and the massive oil derivatives market. There stay fairly a number of variations of opinion on the worldwide political entrance.
One of those is definitely the connection with Russia, after the outbreak of the conflict in Ukraine. At a minimal, the Gulf international locations need to preserve an equidistant relationship with Moscow, whereas the European Union considers the battle now “existential” and is dedicated to untiring help for Kiev. Diplomats from the 2 blocs have been negotiating for days on a joint assertion during which the summit contributors urge the events for “a complete, just and lasting peace in Ukraine”.
https://www.ilsole24ore.com/art/ue-e-paesi-golfo-insieme-fermare-guerre-e-rafforzare-legami-economici-AGjAe1a