Turkiye Initiates Free Trade Agreement Negotiations with Gulf Cooperation Council
In a push to enhance economic exchange in goods, services, and investment, Turkiye is gearing up to hold the first round of negotiations for a Free Trade Agreement with Gulf Cooperation Council (GCC) states. The three-day event, scheduled for July 29-31 in Ankara, will see the participation of nine Saudi government agencies.
The discussions will center around information and data sharing, trade challenges, opportunities among the parties, and building confidence and partnership through cooperation and joint coordination. According to the Saudi General Authority of Foreign Trade, this meeting sets the stage for reaching a comprehensive final agreement in subsequent rounds.
Additional topics on the negotiation agenda include rules of origin, technical barriers to trade, and sanitary and phytosanitary measures. The aim is to establish guiding principles for the discussions, set a framework for future bargaining rounds, and wrap up the talks as swiftly as possible.
This upcoming round of negotiations follows the signing of a joint statement to kick off free trade talks between GCC countries and Turkiye. The agreement, signed on March 21, underscores the parties’ commitment to developing a strategic partnership.
By providing preferential advantages for national products and services to access markets, the agreement aims to liberalize goods and services, facilitate investments, boost trade, and drive economic growth in the member nations. The Saudi General Authority of Foreign Trade will lead the Kingdom’s delegation to the event, with key ministries and authorities also set to participate.
Saudi Arabia’s negotiating team will ensure that the trade talks align with the country’s objectives and policies, working to incorporate the nation’s negotiating positions and collaborating with countries sharing similar trends in international exchange.