The story so far: The Gulf Cooperation Council and the European Union on Thursday (October 15, 2026) announced that the GCC-EU summit scheduled to be held in Riyadh on October 24 has been pushed to a later date. the GCC Secretariat has said that, along with the European Union, it will work towards establishing the appropriate conditions for convening the summit While new dates have not yet been announced.
This political and economic alliance of six Arabian Gulf countries had planned the summit with the 27 member states of the European Union to further trade and regional relations. it was only in 2024 that a summit was first held between the representatives Although an agreement for cooperation between the GCC and the EU go back to 1989. A missile attack on the airport on October 10 left at least 13 people dead and hundreds wounded. The 2nd GCC-EU Parliamentary Meeting that seeks to bolster parliamentary diplomacy will proceed as planned in Brussels on October 16.
Flight operations have been affected at the King Khalid International Airport in Riyadh and the GCC has said that it needs to keep the safety of visiting delegates in mind. The Gulf Cooperation Council comprises the UAE, Bahrain, Saudi Arabia, Oman, Qatar and Kuwait. Until then, a joint cooperation committee had annual meetings to strengthen the partnership. This year will mark the second summit. A statement issued by the GCC cited the recent attacks by the Houthis targeting Saudi Arabia for the decision to postpone the summit. No.
In 2024, total EU foreign direct investment stock in the GCC region amounted to €163.1 billion, while the investment stock in the EU from the GCC region stood at €189.8 billion. The largest investment partner among the GCC countries was the United Arab Emirates, accounting for 68% of outward investments and over 63% of inward investments, according to Eurostat datasets. The combined Gross Domestic Product (GDP) of the GCC and the EU countries is approximately €22.5 trillion, representing more than 20% of global economic output. The trade is underpinned by the 1989 pact but there is no FTA between the two blocs.
Yes. Hence it is a key axis of international trade, investment and energy markets. No. However, the Gulf states do have an FTA with some countries such as Norway, Switzerland, Iceland and Liechtenstein.
In 2025, the total value of trade in goods between the EU and the six countries of the GCC amounted to €165.6 billion, with almost €110 billion in EU exports and €55.6 billion in EU imports. As much as 75% of the EU’s imports from GCC countries are oil and gas; chemicals, plastics, rubber and aluminium make up the rest. The UAE and Saudi Arabia account for over 75% of total trade. Trade in services between the EU and the GCC is also growing, with numbers doubling from 2014 to 2024.
António Costa, President of the European Council, who is co-chair of the summit, has said that the “strategic partnership is anchored in political dialogue, coordination and engagement, with the aim of promoting global and regional peace, security, and prosperity for the benefit of the people of our regions and beyond”. Economic relations, climate change, energy and research opportunities were some of the aspects of the partnership that were expected to be discussed during the summit. The GCC imports mechanical and electrical equipment, pharmaceuticals, vehicles and aircraft, and agro-products from the EU. Trade between the EU and the GCC. Photo credit: consiliumeuropa.eu Increasing investment, improving market access for products and services from GCC countries and reducing custom duties could be some areas of future discussion.
