EUGCC RELATIONS Name Almuayd Alghailani U 100732 Nawaf

EU-GCC RELATIONS Name: Al-muayd Al-ghailani - U 100732 Nawaf Al-lawati – U 101517 Shuaib Al-shuhomi – U 108598

CONTENT • Introduction • History • Cooperation agreemeent • Economic and trade relations • EU-GCC cooperation programs • GCC-EU free trade agreement (FTA) • Economic impact of FTA • Conclusion

INTRODUCTION Video (3 -min) • GCC: • https: //www. youtube. com/watch? v=ZJP-FBj. NHJw • European Union: • https: //www. youtube. com/watch? v=yw. JS 7 swbqe. E

HISTORY OF GCC-EU RELATIONS. . • Objectives of GCC to have this relationship. • First interaction ( 1980 ). • First agreement ( 1988). • Intangible resources. • General exchange agreement ( 1980’s to 2000).

COOPERATION AGREEMENT DIVERSIFICATION OF GCC COUNTRIES. GENERAL OBJECTIVES OF AGREEMENTS. BROADEN RELATION/ CONSIDERING LEVEL OF DEVELOPMENT.

CONCLUSION • As shown in the presentation, GCC and EU has significant good relation in further years. • Common interest in developing each other. • Good integration. • Strategic alliances. • All countries agreed on the agreements.

REFERENCES • Saleh, N. (1999). The European Union and the Gulf States: A Growing Partnership. Middle East Policy, 7(1), 50. • Patlitzianas, K. D. , & Flamos, A. (2016). Driving forces for renewable development in GCC countries. Energy Sources Part B: Economics, Planning & Policy, 11(3), 244. • Flamos, A. (2015). The Timing is Ripe for an EU-GCC “Clean Energy” Network. Energy Sources Part B: Economics, Planning & Policy, 10(3), 314

VIDEO ( 3 MIN) • EU trade policies. • https: //www. youtube. com/watch? v=Ii. OC 5 XG 2 I 5 Y • GCC trade policies • https: //www. youtube. com/watch? v=R 6 Fdhl. Uup. Z 4

ECONOMIC AND TRADE RELATIONS • The GCC is currently the EU's fifth largest export market and the EU is the top trading partner for the GCC. • The trade between the EU-GCC has been growing steadily between 2006 -2016, with reaching a peak in 2013. • EU-GCC total trade in goods in 2016 amounted to € 138. 6 billion. • In 2016, EU exports to the GCC is amounted to € 100. 8 billion. On the other hand, EU imports from the GCC is amounted to € 37. 7 billion, which resulted in a surplus for EU.

ECONOMIC AND TRADE RELATIONS CONT. . GCC EU • Exports (2016) 1. Industrial Products 91. 4%. 1. Mineral fuels and mining products 65. 9%. 2. Machinery and transport equipment 49%. 3. Chemicals 11. 5% 2. Chemicals 12. 3%.

EU-GCC COOPERATION PROGRAMS • Erasmus Mundus Association • Provides fully funded scholarships to study in Europe (Bachelor, Master, and Ph. D. ) • Was originally made for European student only. • Learn about the other countries cultures. • Gives the opportunity to study in two different countries.

EU-GCC COOPERATION PROGRAMS CONT. . • INCONET-GCC 2: Joint Research Opportunities • A 3 years project (2014 -2017), that is sponsored by the European Commission. • It aims to establish Science, Technology, and Innovation international Network between EU and GCC countries. • Participants: Researchers, SMEs, Universities, etc. .

EU-GCC COOPERATION PROGRAMS CONT. . • EU-GCC Business and Trade Cooperation Facility • The purpose of this program is to increase trade and investments between the EU and the GCC. • Latest Activities: EU-GCC Business Forum in 2017 in Oman

CONCLUSION • Perfect external and internal economic relations. • Both regions depends on each other in regards exports and imports. • The relation between parties developed in term of R&D and progamms. • Example ( ERASMUS MUNDUS) etc. • Future economic result successfully.

VIDEO (3 MIN) • EU recent economic status. • https: //www. youtube. com/watch? v=EL 6 O 3 V 6 Tk. XQ • GCC recent economic status. • https: //www. youtube. com/watch? v=4 ZKDTj-nme. Q

STATUS OF EU-GCC RELATIONSHIP • EU and GCC leading projects for Sub/regional integrations into the geographical areas. • Interactions of organizations (GCC-EU) since the establishment of GCC. • 1980’s, yet the EU wasn’t existing, EC played major rule in the integration. • Initiating closer relationships. • First meeting held in 1985, followed with rounds of negotiations. • Led to cooperation agreement on June 15, 1988. • FTA, tangible results expressed by (economics, politics, security and energy). • 25 Years later those expectation wasn’t as its been expected. • The agreements were highlighted as (Negative outcomes).

GCC-EU FREE TRADE AGREEMENT (FTA) • Six members countries considered important as a trade point of view because of: • Considered fourth largest export market for EU. • Forming own customs union = completing internal market. • Ongoing cooperation regarding: • Investment issues. • Macro-economic matters. • Climate change. • Energy and environment. • R&D.

GCC-EU FREE TRADE AGREEMENT (FTA) ( CONT. . ) • EU-GCC total trade in goods in 2016 amounted to € 138. 6 billion. In 2016, EU exports to the GCC amounted to € 100. 8 billion. In the meantime, EU imports from the GCC accounted for only € 37. 7 billion, generating a significant trade surplus for the EU. • EU-GCC trade has been steadily growing between 2006 and 2016: total trade rose by 53% in ten years, with a peak in 2013 – corresponding to the peak of oil prices. • In 2016 EU exports to Gulf Cooperation Council countries were diverse but focused on industrial products (91. 4%) such as power generation plants, railway locomotives and aircrafts as well as electrical machinery and mechanical appliances. Machinery and transport equipment (€ 49. 4 billion, 49, 0%) and chemicals (€ 1. 6 billion, 11. 5%) were the main categories of products exported in 2016. • EU imports from Gulf Cooperation Council countries are mainly mineral fuels and mining products (€ 24, 9 billion, 65, 9%) and chemicals (€ 4, 6 billion, 12, 3%). • The EU was the first trading partner for the GCC in 2015 accounting for 16, 6% of its total trade, followed by China (14. 9%), India (9. 4%) and Japan (8. 6%). • Bilateral trade in Services has also been increasing and amounted to € 47. 8 billion in 2014 compared to € 36. 5 billion in 2010. EU services exports are roughly twice as much (€ 32. 0 billion) as those of the GCC (€ 15. 8 billion).

ECONOMIC IMPACT OF FTA • Quantitative results shows how greatly the expanded growth, improve economic welfare. • Citizens of GCC enjoyed greater opportunity in regard of imports at internationally competitive prices. • From regionalism to Liberalism: Reduced common GCC tariffs from 5% to 3%, which concludes • 1 - Maximum trade performance • 2 - welfare agreements.

CONCLUSION • Both parties status are enhancing more when developments are extended more. • Successful future relation in economic GDP for both regions. • Exceeding the expectation if they saw it as positive outcomes. • Increase export and import by using FTA. • FTA is the best solution for GCC region.

REFERENCES • Saleh, N. (1999). The European Union and the Gulf States: A Growing Partnership. Middle East Policy, 7(1), 50. • Patlitzianas, K. D. , & Flamos, A. (2016). Driving forces for renewable development in GCC countries. Energy Sources Part B: Economics, Planning & Policy, 11(3), 244. • Flamos, A. (2015). The Timing is Ripe for an EU-GCC “Clean Energy” Network. Energy Sources Part B: Economics, Planning & Policy, 10(3), 314 • AL-Shammari, N. N. (2015). GCC Trade Potentials with EU Members. Journal Of The Gulf & Arabian Peninsula Studies, 41(156), 51 -77. • Nonneman, G. (2006). EU‐GCC Relations: Dynamics, patterns and perspectives. International Spectator, 41(3), 59. • Yenigun, Cuneyt (2016), “Regional Power of The Middle East”, (in) Sects, Ethnicity and Conflict Resolution, Reyyan Dogan (ed), TASAM Press, , Ist. , 412 -425 • Flamos, A. , Roupas, C. V. , & Psarras, J. (2013). GCC Economies Diversification: Still a Myth? . Energy Sources Part B: Economics, Planning & Policy, 8(4), 360. • Noura Abdel Maksoud, E. (2014). THE ANALYSIS OF EU-GCC POTENTIAL FREE TRADE AREA AGREEMENT THROUGH EU-GCC ACTUAL STEPS (1995 -2012). World Review Of Political Economy, 5(3), 331 -358. • Eissa, N. M. (2014). The analysis of EU-GCC potential free trade area agreement through EU-GCC actual steps (19952012). World Review Of Political Economy, (3), 331. • Momani, B. (2008). Gulf Cooperation Council Oil Exporters and the Future of the Dollar. New Political Economy, 13(3).