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PGCC to talk with Iran on establishment of common market

Riyadh, April 26, IRNA -- Persian Gulf Cooperation Council (PGCC) will start negotiations with Iran on establishment of a trade common market.

Saudi Arabia's official News Agency ( SPA) quoting Secretary General of PGCC Abdul Rahman bin Hamad al-Attiyah on Saturday saying, "With the aim of consolidating economic ties, increasing trade exchange and creating joint investments opportunities with countries like Iran and South Korea, the PGCC will start talks with them." He also expressed hope that talks with the European Union conclude this year.

Al-Attiyah noted that the council will also start talks with countries like Japan, China, Turkey, Australia, New Zealand, India and Pakistan for creating such common market.

Iran's Foreign Minister Manouchehr Mottaki in a message to the PGCC secretary general in August 2007 called for expansion of economic and trade cooperation with the PGCC member states in the framework of establishment of a common market.

Iran's proposal to create such a market was considered as one of the items of the agenda of the 104th meeting of foreign ministers of the PGCC on September 1, 2007.

Al-Attiyah had said late September of 2007 that "Iran's proposal is being considered by experts." Saudi Arabia, Kuwait, the United Arab Emirates, Bahrain, Qatar and Oman are members of the Persian Gulf Cooperation Council.

... Payvand News - 04/27/08 ... --

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