The signing of free trade agreement (FTA) between GCC states and the European Union (EU) will be of great benefit to GCC countries at long and medium terms, projected a report by the Dubai Chamber of Commerce and Industry.
The FTA will lure more foreign direct investments into the region and boost the service sector, the report said, according to Gulf News.
It will also help convey the technological knowledge into the region and increase competition, the report has indicated.
