UAE economy – economic relations with the EU

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UAE economy – economic relations with the EU

  • Cooperation Agreement (Cooperation Agreement) between the EU and the Gulf Cooperation Council (GCC) – was signed in 1989.
  • This agreement is the first of á new generation of agreements that the EU has concluded with third countries. It is not limited to economic cooperation, but envisages – in the long term – the possibilitý of establishing a free trade area between its parties. The premise of the EU-GCC Cooperation Agreement is to facilitate the development of trade relations and the opening up of goods markets. 
  • A number of working groups were established to coordinate the development of cooperation involving industry, energy̨ and environmental̨ protection. In 1996, the so-called decentralised cooperation̨ was added to the existing pattern of joint activitieś, which includes academic, inter-enterprise and inter-media cooperation̨. 
  • A cooperation agreement between the EU and the UAE was signed in January 2018, which aims to enhance political dialogue and bilateral trade between EU countries and the UAE. Political relations with the EU are also strengthened by the EU Delegation, which has been operating in Abu Dhabi since 2013. 

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