DATE=11/29/1999
TYPE=CORRESPONDENT REPORT
TITLE=G-C-C SUMMIT WRAP (L-ONLY)
NUMBER=2-256622
BYLINE=SCOTT BOBB
DATELINE=CAIRO
CONTENT=
VOICED AT:
INTRO: Gulf Arab leaders say they blame the
government of Iraq for the suffering of the Iraqi
people. Middle East Correspondent Scott Bobb reports
the leaders, meeting in Saudi Arabia for the Gulf
Cooperation Council, also pledged to ensure stability
in world oil prices and took steps toward a regional
common market
TEXT: Gulf Council leaders are expressing
satisfaction with the rise in oil prices during the
past year. They pledged to ensure that the balance
continues between supply and demand, before ending
their summit (Monday) in Riyadh.
The meeting came as oil prices reached nine-year
highs. Production cuts pulled them up from the 25-
year lows one year-ago.
Oil prices recently rose sharply when Iraq suspended
its oil exports because of displeasure with a stopgap
extension of the U-N oil-for-food program. But, Iraqi
officials say they plan to resume exports as soon as
the U-N Security Council agrees to another phase of
the program.
Gulf Council leaders accused the Iraqi government of
delaying a resolution to the Iraqi crisis. In their
final statement, read by Secretary-General Jameel al-
Hujailan, they blamed the Iraqi government for
continued international sanctions.
/// AL-HUJAILAN ACT - IN ARABIC - FADE UNDER ///
The G-C-C official said despite the fact that nine-
years have passed, Iraq is still stalling
implementation of U-N resolutions to put an end to the
suffering of the Iraqi people. According to the
statement -- the Iraqi government is solely to blame.
The Gulf Council leaders adopted a relatively mild
tone on the dispute between one of its members, the
United Arab Emirates, and Iran over three islands in
the Gulf.
Previous summits have condemned Iran for occupying the
islands. But the resolution urged a G-C-C committee
to prepare the way for direct negotiations between the
two countries.
G-C-C leaders agreed Sunday to coordinate tariff rates
between the members in five-years, taking a major step
toward a goal adopted 18-years ago of establishing a
common market in the region.
The six-members of the Gulf Council -- Saudi Arabia,
United Arab Emirates, Kuwait, Bahrain, Qatar, and Oman
-- together possess 45-percent of the world's known
oil reserves and provide 20-percent of the world's oil
needs. Economists say an economic union would create
an 80-billion dollar market in the region. (SIGNED)
NEB/SB/JWH/RAE
29-Nov-1999 12:55 PM EDT (29-Nov-1999 1755 UTC)
NNNN
Source: Voice of America
.
|
NEWSLETTER
|
|
Join the GlobalSecurity.org mailing list
|
|
|
