Any trade deal with the EU should be equitable | GulfNews.com

Any trade deal with the EU should be equitable | GulfNews.com:



"The member-states of the Gulf Cooperation Council ought to find a way to clinch an equitable trade deal with the EU and thus streamline the current imbalance in volumes. Available stats suggest that the GCC enjoys trade surpluses with key regions and trading partners across the board, but with the clear exception of the EU.



The IMF projects current account surpluses for all the GCC states for this year and the next on the back of the steady oil prices. (Oil accounts for three-quarters of the exports from the GCC. And what’s more, prices keep hovering around $100 a barrel ever since the post-subprime induced market crisis of 2008.



This phenomenon contributes to ensuring sustained surpluses in the external accounts, with the trade surplus running consistently at above the $400 billion level annually in recent years."



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