EU Says Ready to Resume Free Trade Talks with Gulf

Chair of the European Parliament’s Foreign Affairs Committee David McAllister. (European Parliament)
Chair of the European Parliament’s Foreign Affairs Committee David McAllister. (European Parliament)
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EU Says Ready to Resume Free Trade Talks with Gulf

Chair of the European Parliament’s Foreign Affairs Committee David McAllister. (European Parliament)
Chair of the European Parliament’s Foreign Affairs Committee David McAllister. (European Parliament)

Chair of the European Parliament’s Foreign Affairs Committee David McAllister said the European Union is ready to resume free trade negotiations with the countries of the Gulf Cooperation Council (GCC).

In an interview to Asharq Al-Awsat, he said Europe, along with the rest of the world, was shocked by US President Donald Trump’s 20% tariffs on European imports.

He stressed that the partnership with Saudi Arabia was stronger than ever, noting that the European Parliament is seeking to elevate ties to the level of strategic partnership agreement in various fields.

McAllister stressed that Saudi Arabia is a main bilateral and regional partner to the EU in the Gulf region and beyond.

The partnership is stronger than ever, he stated, while hailing Saudi Arabia’s growing regional and international diplomatic role.

He also noted untapped potential in bilateral relations between the EU and the Kingdom.

The European Parliament supports the development of the relationship towards the level of strategic partnership, he added. This will provide a binding political and legal framework to bolster cooperation between the EU and Saudi Arabia in several fields beyond the economy.

The European Commission agreed on April 1 to launch negotiations and the issue is awaiting approval from the parliament to officially kick them off.

On Saudi Arabia’s diplomatic role, McAllister described Riyadh as a main player in the region.

On its position on Gaza, he underscored the Saudi leadership’s participation in the international coalition for the implementation of the two-state solution and its support for the Arab recovery and reconstruction plan.

He also highlighted Saudi Arabia’s constructive role in backing the reconstruction of Syria after the ouster of President Bashar al-Assad. He also noted its role in facilitating talks between Lebanon and Syria in resolving border issues.

Moreover, McAllister said Saudi Arabia played a successful role in achieving a ceasefire in Yemen and it recently hosted complex negotiations between the United States and Russia.

The official expressed Europe’s appreciation for the hosting of the negotiations, saying, however, that it is important for Ukraine to be present at ceasefire talks because its future is at stake. The EU must also be present because peace in Ukraine also affects it.

Asked about Saudi Arabia’s Vision 2030, McAllister said Brussels believes it has promising opportunities to explore in the Kingdom.

The EU appreciates the ambitious economic goals set by Vision 2030 and that aim to diversify the economy and ease the reliance on oil and gas, he went on to say.

He said opportunities for cooperation were available and they can pave the way for the establishment of a strategic partnership agreement and a platform for high-level bilateral cooperation in various fields, such as trade, innovation, energy, security and others.

He added that the EU welcomes the shift towards modernization set out by Vision 2030, while also understanding the challenges related to it.

The EU is ready to support Saudi Arabia’s economic and environment projects, McAllister stressed.

On the free trade talks, he said the EU is ready to resume negotiations with the GCC.

The EU is committed to bolstering bilateral ties with the Gulf to meet the commitments set out during the EU-Gulf meeting in October, he stressed.

The work program reached during the meeting covered security, climate, communications and trade.

McAllister stressed that Europe supports the signing of an ambitious free trade agreement that would help in achieving Vision 2030.

He pointed to negotiations that have been kicked off with the United Arab Emirates to reach a bilateral free trade agreement.

A free trade agreement with the Gulf will be very beneficial, he stressed. Long discussions to that end have been held, but the world has become more complicated and unpredictable, he said.

Asked about when Saudi citizens will be relieved of the Schengen visa requirement, McAllister replied that he understands that this is important to them, adding however, that the issue is complicated and hinges on the adoption of a new European strategy and the approval of all members.



Saudi Arabia Urges Global Action to Tackle Energy Poverty

Saudi Finance Minister Mohammed Al-Jadaan speaks at the forum in Vienna on Tuesday. (SPA)
Saudi Finance Minister Mohammed Al-Jadaan speaks at the forum in Vienna on Tuesday. (SPA)
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Saudi Arabia Urges Global Action to Tackle Energy Poverty

Saudi Finance Minister Mohammed Al-Jadaan speaks at the forum in Vienna on Tuesday. (SPA)
Saudi Finance Minister Mohammed Al-Jadaan speaks at the forum in Vienna on Tuesday. (SPA)

Saudi Finance Minister Mohammed Al-Jadaan underscored on Tuesday the critical role of economic reforms in securing basic needs for individuals and communities to achieve prosperity and tackle developmental challenges.

Speaking at the opening session of the 2025 OPEC Fund for International Development Forum in Vienna, he highlighted the urgent need to address “energy poverty” affecting around 1.2 billion people worldwide.

Al-Jadaan emphasized that energy security is not a luxury, but a fundamental pillar for inclusive development and growth.

He warned that its absence disrupts vital sectors, such as healthcare, education, economic productivity, environmental sustainability, and even water extraction and food security.

The minister pointed to geopolitical tensions, market volatility, and rising global energy demand as pressing factors compelling nations to adopt strategic approaches to bolster energy security.

He called for diversifying energy sources, boosting investments in clean technologies, and embracing innovative financing solutions to accelerate energy access and support long-term sustainability.

Moreover, Al-Jadaan urged development banks to take effective action, outlining four key areas for focus. First, he stressed the need for multilateral development banks to support all energy sources impartially.

He cautioned against unrealistic emissions-cutting policies that exclude major energy sources, warning such moves could destabilize energy markets and disproportionately affect developing countries and communities.

Second, he highlighted the importance of concessional financing to speed up energy access in underserved regions.

He praised the World Bank-led “Mission 300” initiative aimed at providing energy to 300 million people in Africa, with significant contributions from partners including the Islamic Development Bank and the OPEC Fund for International Development.

Third, Al-Jadaan discussed lowering investment risks in the energy sector to attract private sector participation.

He pointed to tools such as partial risk guarantees, political risk insurance, and blended finance structures as vital in enhancing the financial viability of energy projects, especially in low-income, high-risk countries.

The fourth focus area called for increased investment in emerging energy technologies, including carbon capture, utilization and storage (CCUS), and more sustainable uses of hydrocarbons.

These efforts, he said, would bolster energy security while addressing carbon emissions in the transition toward net zero.

Al-Jadaan warned that the impacts of energy poverty transcend borders, fueling economic instability, increasing migration pressures, and raising humanitarian burdens worldwide.

He reaffirmed Saudi Arabia’s commitment to working with international partners to strengthen energy security and eradicate energy poverty alongside its climate change initiatives.

Furthermore, Al-Jadaan highlighted the Kingdom’s ambitious targets: generating 50% of its electricity from renewable sources by 2030 and achieving net-zero emissions by 2060, within a circular carbon economy framework.

Global cooperation is essential to achieving fair, sustainable development that benefits all, he stressed.