Brussels keen to resume GCC trade talks under appropriate legal framework, says EU official

RIYADH: EU states would be keen to resume free trade negotiations with the European Union that were suspended in 2008 provided they took place within a legal framework, said the EU ambassador to Saudi Arabia, Patrick Simonnet.

He made the disclosure during a press conference at the Riyadh office of the EU Commission, Al Eqtisadiah reported.

However completing such agreements remain a challenge given existing legal constraints, the newspaper said without elaboration

The EU is Saudi Arabia’s second trading partner after China, with a volume of trade exchange of €40 billion, the newspaper said without specifying the time frame.

“About 500 companies invest in Saudi Arabia in various sectors of commercial activities, and about 20,000 European citizens work in the Kingdom,” he said.