GCC, EU close to free trade agreement Thursday, 27 May 2010 06:18

By MOHAMED SAEED

DOHA: The GCC is quite close to concluding the much-awaited Free Trade Agreement (FTA) with the European Union (EU), the visiting German Chancellor, Angela Merkel, said here yesterday.

“We are centimetres away from inking the coveted deal,” Merkel said in reply to a question from media persons about the proposed GCC-EU FTA.

She was addressing a joint news conference with the Prime Minister and Foreign Minister, H E Sheikh Hamad bin Jassem bin Jabor Al Thani, at the Emiri Diwan.

The venue was crowded with local and foreign media personnel.

“The FTA talks must lead to some agreement because they have already consumed so much time,” she said of the free trade deal, for which talks began some 20 years ago.

“The FTA, once concluded, will benefit both sides,” said the visiting dignitary.

Earlier yesterday, Qatar and Germany signed two agreements. A protocol for cooperation in the cultural field was inked for Qatar by the Acting Director-General of the Museum of Islamic Art, Nasser Faleh Al Dosri, and the Director of the Museum of Art in the German state of Dresden, Prof Marin Gudt.

Later, a memorandum of association was signed for a German-Qatari joint venture, Lusail Hoctiff. Ghanem Saad Al Saad, Managing Director of Qatari Diar, and Heiner Malchito of Hoctiff Construction signed the memorandum.

Responding to questions about the euro, Merkel said the European common currency’s stability was important for Germany because it is a major exporting country. “So we will actively back the euro,” she said.

Merkel, who is on a tour of the region and leaves for Bahrain today, said she was leading a huge delegation of German businessmen. German companies are keen to contribute to development projects in Qatar, added the German Chancellor.

Earlier, the Premier said Qatar hoped to partner with Germany in joint investments.

He said international and regional issues were discussed with the visiting German leader in a friendly atmosphere. “Qatar and Germany share a close rapport,” the Premier said.

THE PENINSULA

See also page 3

| More...