China has made securing a free-trade agreement (FTA) with the GCC a high priority as demand for energy and industrial imports in the fast-emerging global superpower rises.
“Negotiations were suspended because EU countries added a clause depriving GCC countries the right to impose duties on EU exports in the future,” the Director General of the External Economic Relations Department at the Gulf Cooperation Council said.
Canada, which lost millions of dollars in beef trade opportunities with Saudi Arabia following the outbreak of mad-cow disease, is now seeking full access to this lucrative Saudi market. There is also talk of possibly holding negotiations for a free trade agreement and a general investment protection accord with the Gulf states.
Dato’ Mohd Razif Deputy Governor of Bank Negara Malaysia (BNM) said that Malaysia has ample investment opportunities in various fields and can become a gateway for Emirati investors to access Asian Markets, expressing his resolve to open joint ventures between Malaysia and United Arab Emirates to enhance economic and trade ties between them.
Malaysia, which is currently in the midst of negotiating a free trade agreement (FTA) with the Gulf Cooperation Council (GCC), will look at several sectors including Islamic banking to be included in the FTA.
The UAE will push for a long-awaited free trade agreement between the GCC and the European Union during the Emirates presidency of the Gulf states’ bloc next year, said the Foreign Minister.
Talks of signing of FTA between Pakistan and GCC have been making the rounds for several years but both sides have only now reached at some concrete work to move ahead.
GCC states may once again refuse to resume free trade agreement talks with the European Union due to “intransigence” on the European side, a senior official said.
Closer trade ties with the Middle East will culminate this April with the signing of a free trade agreement. AMANDA MORRALL finds out why the exporter’s road to Mecca is pointing in that direction.
In a significant setback to India’s ties with the Gulf Cooperation Council, the Free Trade Agreement discussions between the two sides have been postponed indefinitely.
Lobbies representing European petrochemicals and aluminum industries are attempting to stall the long overdue free trade agreement between the Gulf Cooperation Council and the European Union because they are concerned about compettion from the GCC
New Zealand has successfully concluded negotiations for a free trade agreement with six oil-rich Gulf states, Trade Minister Tim Groser announced yesterday.
New Zealand and the six states of the Gulf Cooperation Council have concluded a free trade agreement, Trade Minister Tim Groser announced Monday.
Malaysia hopes to start negotiations for a free trade agreement with the Gulf Cooperation Council countries this week.
The long-awaited negotiations on a Free Trade Agreement between the European Union and the Gulf Cooperation Council is expected to be completed by next March, a Kuwaiti senior official said Tuesday.
Gulf oil producers yesterday urged the European Union to stop setting conditions and sign a free trade agreement that has eluded the two sides for nearly two decades because of persistent rifts.
Plans to further relations between New Zealand and the Middle East are on track and a trade agreement looks close to being finalised next year, one business expert says.
The EU is expected to drop "noneconomic demands" to which the Gulf states object, according to a report from the Emirates Industrial Bank.
After concluding free trade talks with the European Union, Korea is eyeing the Gulf Cooperation Council as its next FTA partner
Sri Lanka and Kuwait successfully concluded negotiations on the proposed Bilateral Investment Promotion and Protection Agreement (IPPA) between two countries. This will be Sri Lanka’s first ever IPPA with a Gulf country.