Gulf in the News – October 10, 2012

Posted on October 10, 2012 by Mariam Klait

Iran’s threat to cut ties with UAE ‘flimsy’, experts say

Analysts have called Iran’s threats to sever diplomatic relations with the UAE “flimsy and lacking respect and value”.

They also warned Tehran not to test UAE’s resolve over the issue of its three occupied islands, as Iran’s foreign ministry reportedly warned it could look at cutting diplomatic ties with the UAE because of a festering dispute over the islands.

Dr Ebtisam Al Katbi, professor of political science at the UAE University, said on Tuesday that Iran will be “the biggest loser of such a move, especially at this time when Tehran severely suffers from sanctions and pressures from the whole world.

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Gulf in the News – October 9, 2012

Posted on October 9, 2012 by Mariam Klait

IFC to boost investments in Yemen

Source: Saudi Gazette (Read full story)

The World Bank’s financial arm International Finance Corp (IFC) plans to increase its investments in Yemen, Iraq and North Africa next year to help support development and job creation, a senior IFC executive said.
“MENA needs to create 50-70 million jobs in the next decade. Recent events in the MENA region have created the urgency to address the fundamental conditions required to revive growth and support human development,” Dimitris Tsitsiragos, the IFC’s vice president for Europe, Middle East and North Africa, said in an interview Monday.

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Joint Communique from the 2nd U.S.-GCC Strategic Cooperation Forum

Posted on October 4, 2012 by Mariam Klait

Foreign Ministers of the Gulf Cooperation Council (GCC), the Secretary General of the GCC, and U.S. Secretary of State Hillary Rodham Clinton met today in New York for the second ministerial meeting of the U.S.-GCC Strategic Cooperation Forum. The Forum was launched in March 2012 to deepen strategic cooperation and coordination of policies to advance shared political, military, security, and economic interests in the Gulf region, foster enhanced stability and security throughout the Middle East, and strengthen the close ties between the GCC and the United States

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The officials agreed that the September 27 Friends of Yemen Ministerial reflected their governments’ strong support for President Hadi and Yemen’s political transition, and called on the international community to take immediate action to support Yemen’s economic development and help it address pressing humanitarian needs. The officials urged Yemen to move quickly to begin the National Dialogue, a fundamental first step to other transition benchmarks that must follow in fully implementing the GCC initiative, and noted recent progress on some areas, including steps toward military reorganization and the appointment of a broadly representative and inclusive committee to support the National Dialogue.

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Gulf in the News – October 3, 2012

Posted on October 3, 2012 by Mariam Klait

GCC HEADING TOWARDS UNION BUT NEEDS TO SOLVE KEY ISSUES

Source: Kuwait News Agency (Read full story)

Talks between the six Gulf Cooperation Council (GCC) to establish a union have made large strides but there are some issues to needed decisive decisions and common conviction Kuwait Foreign undersecretary Khaled Al-Jarallah said on Tuesday. ” The GCC statute affirms that coordination between the GCC countries lead to unity and this is the destiny of GCC countries,” Al-Jarallah told reporters on sidelines of a reception by the Korean Embassy marking its national day and armed forces day.

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US and GCC Sign Framework Agreement for Trade and Economic Cooperation

Posted on October 2, 2012 by NCUSAR

United States Trade Representative Ron Kirk today announced that the United States and the Gulf Cooperation Council (GCC) signed a Framework Agreement for Trade, Economic, Investment and Technical Cooperation. The Agreement will establish a Joint Committee to discuss areas where both the GCC and the United States share mutual interests, including considering opportunities for enhancing economic, commercial, investment and technical cooperation, fostering their economic relations and increasing the volume of trade and investment between them.

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The GCC region collectively was the sixth largest supplier of imports to the United States in 2011 with U.S. goods imports from the region totaling nearly $62 billion. Leading U.S. imports from the GCC include oil, aluminum, fertilizers, and organic chemicals. U.S. foreign direct investment (FDI) in GCC countries was $23.5 billion in 2010.

Press Release from The Office of the United States Trade Representative

Gulf in the News – October 1, 2012

Posted on October 1, 2012 by Mariam Klait

GCC FMs and US discuss Strategic Cooperation

Source: Khaleej Times (Read full story)

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The statement included the following points regarding the strategic cooperation between the two sides:

Commitment of both sides in the light of the challenges facing the region to promote political, military, security and economic cooperation between them in order to maintain peace, security, stability and prosperity in the Gulf region and the Middle East and to face the threats against the territory of the GCC countries and maritime security in the Gulf region.

The two sides expressed their deep concern over the continuing Iranian intervention in the internal affairs of the Gulf Cooperation Council and called on Iran to respect international principles in this area.

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