GCC-Turkey deal to boost trade relations

Gulf states have signed a deal with Turkey to boost trade ties and expedite the free trade talks process.

The memorandum of understanding "is a step on the way to a strategic partnership with Turkey," Qatar's first Deputy Premier and Foreign Minister Sheikh Hamad bin Jassem bin Jabr Al Thani said.

The pact will pave the way for the conclusion of a free trade agreement between the Gulf Co-operation Council and Turkey that has been under negotiation since 2005 and Sheikh Hamad said it will also provide opportunities to strengthen political, economic, security and cultural ties.

Hamad, whose country currently holds the rotating chairmanship of the six-member GCC, signed the deal late on Tuesday with Turkish Foreign Minister Ali Babacan and GCC SecretaryGeneral Abdurrahman Al Attiyah on the sidelines of a meeting of Gulf foreign ministers in the Saudi Red Sea city of Jeddah.

Babacan said Turkey wanted stability in the region and proposed holding an annual meeting between Ankara and other GCC states.

Sheikh Hamad denied that the accord had anything to do with "the balance of power in the region".

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