GCC, Turkey begin free trade agreement negotiations in Ankara
Date
7/29/2024 7:48:06 AM
(MENAFN) Starting Monday, July 29, 2024, the first round of negotiations for a free trade agreement between the Gulf Cooperation Council (GCC) countries and Turkey will commence in Ankara, Turkey. The negotiations are scheduled to span three days, concluding on July 31, 2024. This inaugural round will address a broad range of issues, including trade in goods, services, investment, rules of origin, technical barriers to trade, and sanitary and phytosanitary measures.
The primary goal of this initial round is to establish the foundational principles that will guide the negotiations on these topics. Additionally, the round will focus on setting up the framework for future negotiations and defining the objectives for subsequent rounds. The aim is to reach a comprehensive agreement in a timely manner by laying out a clear path forward for discussions.
During this round, participating parties will also exchange information and data, explore challenges and commercial opportunities, and work on building trust and partnerships. Identifying areas of cooperation and joint coordination will be crucial for paving the way toward a final agreement in future rounds. The negotiations are expected to facilitate closer economic ties and enhance mutual benefits for both the GCC countries and Turkey.
Saudi Arabia is actively involved in the first round, with a delegation led by the General Authority for Foreign Trade. The delegation includes representatives from several key ministries and authorities, such as the Ministries of Energy, Investment, Environment, Water and Agriculture, Industry and Mineral Resources, Economy and Planning, as well as the General Authority for Food and Drug, the Zakat, Tax and Customs Authority, the Saudi Standards, Metrology and Quality Organization, and the Export Development Authority.
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