Brussels: Europe and the Arabs

“The strategic partnership between the European Union and the Gulf Cooperation Council (GCC) is based on political dialogue, coordination, and engagement, with the aim of promoting peace, security, and prosperity at the global and regional levels for the benefit of the people of our region and beyond,” said European Council President António Costa in a statement released in Brussels. “Our past, present, and future are intertwined. The time has come to deepen the partnership between the EU and the GCC.” This statement coincided with the announcement that on October 24, 2026, leaders of the EU and GCC member states will meet in Saudi Arabia for the second EU-GCC Summit. The EU will be co-chaired by European Council President António Costa, and represented by European Commission President Ursula von der Leyen.

The EU is the second largest trading partner of the GCC (Bahrain, Saudi Arabia, Kuwait, Oman, Qatar, and the United Arab Emirates). Relations between the European Union and the Gulf Cooperation Council (GCC) are based on the Cooperation Agreement signed in 1989, which stipulates regular dialogue on cooperation between the EU and the GCC on economic relations, climate change, energy, the environment, and research.

The first EU-GCC Summit was held two years ago, on October 16, 2024.

The combined population of the GCC countries is approximately 60 million, with Saudi Arabia and the United Arab Emirates being the most populous (35.3 million and 11.3 million respectively, according to World Bank data). The Gulf region possesses nearly one-third of the world's oil reserves.

In 2025, the total value of trade between the EU and the six GCC countries reached €165.6 billion, comprising approximately €110 billion in EU exports and €55.6 billion in EU imports. Over the past decade, trade between the EU and the GCC has increased by approximately 30%, with imports growing by roughly 54% and exports by approximately 20%. Fuel is the main commodity traded, representing over 75% of EU imports from the GCC.

In 2024 (the latest year for which data is available), trade in services between the EU and the GCC amounted to €84.4 billion, comprising €28.2 billion in EU imports and €56.2 billion in EU exports.

Trade in services between the EU and the GCC more than doubled between 2014 and 2024 (+119%).

In 2024, the total stock of EU foreign direct investment in the GCC region reached €163.1 billion, while the stock of investment from the GCC in the EU amounted to €189.8 billion.