GCC considers free trade with Iran

by Lynne Roberts and Reuters Saturday, 01 September 2007

The Gulf Cooperation Council is considering negotiations with Iran to create a free trade area between its six Gulf Arab members and the nearby Islamic Republic, the group's secretary-general said on Saturday.

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GCC Secretary-General Abdul-Rahman al-Attiya said the body had received a letter from Iranian Foreign Minister Manouchehr Mottaki saying Iran was interested in trade talks.
"(The letter) was linked to Iran's desire to enter into negotiations to create a free trade zone with all the Arab countries," Attiya told a news conference after a GCC meeting.

"As long as there is a desire from the Iranian side then the GCC cannot but be positive in relation to such an issue," he said, adding the GCC wants good ties with its neighbours.

Attiya said Iran had raised the possibility of a free trade area before but the latest enquiry had come in an official letter and GCC countries were interested in steps that would strengthen ties with neighbouring countries.

Attiya said a committee was looking into the details.

The GCC is set to sign a free trade agreement with the European Union within the next two months, officials said last week.

The body recently opened FTA talks with New Zealand, and is also working to finalise agreements with India and the US.



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