GCC and Indonesia Conclude First Round of Free Trade Agreement Negotiations

The first round of negotiations between the Gulf Cooperation Council (GCC) and Indonesia on a free trade agreement has concluded. According to the Saudi Press Agency (SPA), this initial round of talks covered key topics such as goods, services, investment, customs procedures, technical trade barriers, health and safety standards, trade facilitation, and digital trade.

The purpose of the negotiations was to establish the principles on which future discussions will be based, as well as to set a framework for the next stages of negotiations, with the goal of finalizing the agreement within 24 months.

Saudi negotiation team leader Farid Al-Asali called the first round an important step toward building a strong strategic partnership between the two parties. He expressed hope for significant progress in upcoming negotiations.

The Saudi delegation, led by the General Authority of Foreign Trade, included various governmental agencies such as the Ministry of Commerce, Ministry of Energy, Ministry of Investment, Ministry of Environment, Water and Agriculture, and the Ministry of Economy and Planning.

It is worth noting that the Foreign Trade Authority is actively working to enhance the Kingdom’s international trade interests and ensure sustainable development goals through its active participation in various international organizations.