Friday 29th Aug 2014
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COMMON MARKET IN PERSIAN GULF AREA

Muslim World

Persian Gulf Cooperation Council (PGCC) will start negotiations with Iran on establishment of a trade common market. Saudi Arabia, Kuwait, the United Arab Emirates, Bahrain, Qatar and Oman are members of the Persian Gulf Cooperation Council. Secretary General of PGCC Abdul Rahman bin Hamad al-Attiyah expressed hope that talks with the European Union on the subject would conclude this year. Al-Attiyah noted that the council will also start talks with countries like Japan, China, Turkey, Australia, New Zealand, India and Pakistan for creating such common market. Iran’s Foreign Minister Manouchehr Mottaki in a message to the PGCC secretary general in August 2007 called for expansion of economic and trade cooperation with the PGCC member states in the framework of establishment of a common market. Iran’s proposal to create such a market was considered one of the items of the agenda of the 104th meeting of foreign ministers of the PGCC on September 1, 2007.



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