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UAE to revive EU trade talks before year-end

UAE trade minister Thani bin Ahmed Al Zeyoudi at the WTO ministerial meeting in Abu Dhabi in February. He said 'We are getting the support from many of the EU members' Reuters/Abdel Hadi Ramahi
UAE trade minister Thani bin Ahmed Al Zeyoudi at the WTO ministerial meeting in Abu Dhabi in February. He said 'We are getting the support from many of the EU members'

The UAE plans to restart trade talks with the European Union by the end of the year despite a broader agreement with GCC remaining on hold, according to a news report.

The UAE has initiated the discussion both through the GCC and bilaterally, Reuters reported, quoting trade minister Dr Thani bin Ahmed Al Zeyoudi.



“We are getting the support from many of the EU members,” he said, adding that EU-GCC or EU-UAE talks will provide “added value”.

The GCC concluded an agreement with South Korea last year, 16 years after negotiations began, and commenced talks with the UK in 2022, the report said.

In May, Johannes Hahn, the EU commissioner for budget and administration said the bloc was actively seeking alternative “avenues” for economic cooperation with the GCC following a deadlock in free trade agreement talks.

Although he had not ruled out a bilateral trade agreement with the UAE, he said the EU was exploring all opportunities as a “strong, contractual relationship” was conducive to both parties.