GCC contries welcomes strategic dailogue with Turkey

The leaders of the oil-rich Gulf Arab countries formally welcomed strategic dialogue with Turkey at the end of their 31st Gulf Cooperation Council (GCC) summit held in the United Arab Emirates capital of Abu Dhabi. The strategic dialogue meeting, held under the auspices of Kuwait, holder of the rotating presidency of the GCC in October, was attended by Foreign Minister Ahmet Davutoglu, The GCC, represented by Kuwait’s Deputy Prime Minister and Foreign Minister Sheikh Dr. Mohammad Sabah Al-Salem Al-Sabah sought to improve ties with emerging Turkey within the economic cooperation framework agreement, which was signed in Manama in 2005. Turkey was frustrated, however, with the protracted negotiations for a free trade agreement (FTA) with the GCC countries. Turkish officials, including Davutoglu, expressed hope that the agreement would be in place by the end of the year; yet, the summit held earlier this week saw no progress on the issue. Industry observers argue that the flood of cheap Turkish steel and iron products in the GCC market was, among others, a major obstacle in finalizing FTA talks.