VOL. XXXI

NO. 26

4-APRIL-1988

GCC-EC

GCC-EC initial First Stage Cooperation Accord

The Gulf Cooperation Council (GCC) and the European Community (EC) on 25March initialed a trade and cooperation agreement which is expected to beformally signed in June. The new accord is the first-stage agreement which willcommit the two sides to continue granting each other most-favored nationstatus, with a standstill on new tariffs or trade restrictions. The second-stageagreement, providing for a greater degree...