The government of India has kickstarted the process for clinching a free trade agreement with the Gulf Cooperation Council, with which New Delhi had entered into a framework agreement for economic cooperation in August.
The GCC states are seeking, both individually and collectively, to rapidly develop their foreign trade and economic relations.
Kuwaiti Foreign Minister Dr Sheikh Mohammed Sabah Al-Salem Al-Sabah, Pakistani Foreign Minister Khurshid Mehmood Kasuri and Gulf Cooperation Council (GCC) General Secretary Abdul Rahman bin Hamad Al-Attiyah, will sign a framework economic agreement between Pakistan and the GCC states tomorrow (Thursday).
The framework for a free trade agreement (FTA) between India and the GCC states will be signed this week, it has been revealed. The agreement will be signed during the visit of Kuwait’s Foreign Minister Shaikh Dr Mohammed Sabah Al Salem Al Sabah, who will be heading a GCC delegation, including senior officials from Bahrain’s Commerce Ministry.
Overview of Bilateral Negotiations 2004 involving Trade Agreements: State of Play 27 July
The United States and the Gulf state of Oman July 7 signed an agreement aimed at promoting bilateral trade and investment and agreed to begin free trade negotiations later this year.
China is to sign a trade and economic cooperation pact with the six-member Gulf Cooperation Council (GCC).
The six-nation Gulf Cooperation Council (GCC) countries are exploring the possibility of signing a free trade agreement (FTA) with India, Commerce Minister of the Kingdom of Bahrain, Ali Saleh Al Saleh, has said.