Conclusion of 1st Round of GCC-Indonesia Free Trade Agreement Negotiations

 The first round of negotiations on the free trade agreement between the Gulf Cooperation Council (GCC) countries and Indonesia, which was held from September 9 to 13, concluded in the Indonesian capital, Jakarta. The Kingdom represented by the General Authority of Foreign Trade and 11 other government agencies.

 The negotiations tackled several topics, such as trade in goods and services, investment, customs procedures, rules of origin, technical barriers to trade, sanitary and phytosanitary measures, trade facilitation, digital trade, and trade remedies.

 The discussions aim to set the principles on which negotiations will proceed concerning these topics, create a framework for the upcoming negotiating rounds, and establish the desired objectives in an effort to conclude the agreement within 24 months.

 The Deputy Governor of the General Authority of Foreign Trade for International Organizations and Agreements and Head of the Saudi negotiating team, Farid bin Saeed Al-Asali, expressed optimism for the successful conclusion of the first round of negotiations, which reflects the joint determination to strengthen economic and trade relations between the GCC countries and the largest economy in Southeast Asia, for being a significant step towards building a robust strategic partnership. He indicated his confidence in the upcoming rounds of negotiations to witness remarkable progress, given the commitment of all parties to reach an agreement that guarantees further trade and investment opportunities between the two sides, leading to mutual economic growth and prosperity and contributing to achieving the economic vision of both sides.

 The Kingdom's delegation at this round is led by the General Authority of Foreign Trade. It includes representatives of the ministries of commerce, energy, investment, environment, water and agriculture, industry and mineral resources, and economy and planning, as well as from the Saudi Food and Drug Authority, the Zakat, Tax and Customs Authority, the Saudi Standards, Metrology and Quality Organization, the Saudi Export Development Authority, and the Saudi Central Bank.

 The General Authority of Foreign Trade works to enhance the Kingdom's international trade gains, increase its international presence, and effectively participate in international organizations, thereby achieving common goals and sustainable development.