The GCC will not sign a new joint cooperation programme with the EU that involves sharing information on topics ranging from finance to climate change until both sides resolve differences over a trade agreement, the Kuwait News Agency quoted Ghanim Al Buainain, Bahrain’s minister of state for foreign affairs, as saying.
"Almost 99 per cent of the items have being agreed and only one issue related to export duties is currently being reviewed before any decision is reached,” Bahrain’s Foreign Minister Shaikh Khalid bin Ahmed Al Khalifa said.
The New Zealand government is likely to ratify a free trade agreement with the Gulf Cooperation Council (GCC) states within 12 months, a senior official said.
A free trade agreement between China and the Gulf Cooperation Council may be concluded this year, the United Arab Emirate’s ambassador to China said.
Buoyed by a big surge in exports to Dubai, Portugal said on Thursday that it expects to significantly boost its trade with the GCC after the conclusion of a long-awaited free-trade agreement between the European Union and the GCC.
The Gulf Cooperation Council countries and India are expected to conclude a free trade agreement for boosting trade within a year, K K M Kutty, former chairman of Confederation of Indian Industry, has said.
Special Assistant to the Prime Minister for Petroleum and Natural Resources Dr Asim Hussain on Thursday said that the Pakistan-Qatar Joint Ministerial Commission (JMC) would provide an excellent opportunity to enhance economic and trade relations between the two countries.
Visiting Chinese Premier Wen Jiabao and Secretary General of the Gulf Cooperation Council (GCC) Abdullatif al-Zayani agreed on Sunday to speed up negotiations on a free trade agreement (FTA) between the two sides.
Turkish trade with the GCC (Gulf Cooperation Council), in spite of considerable positive progress in recent years, is lagging far behind its potential. Negotiations for a free trade agreement between Turkey and the GCC were launched in November 2005 but are still ongoing and are expected to conclude soon. The delays appear to have been linked above all to the global economic crisis with the talks suspended for a while in 2008-2009, according to a report "Turkey and the GCC: A strengthening Relationship" issued by the National Commercial Bank (NCB).
President Asif Ali Zardari sought United Arab Emirates’s (UAE) help for Free Trade Agreement with GCC countries which would pave the way for increased commercial activity between Pakistan and the Gulf countries.
Trade among Gulf Arab oil producing countries is expected to grow around 14 percent in 2011 recovering from a contraction two years ago at the height of the global financial downturn, two officials said on Sunday.
The Indian pharmaceuticals and chemicals industry will be among the biggest beneficiaries of a free trade agreement between the GCC and India, a leading banker in the region has said.
The Council of Ministers Monday approved the Free Trade Agreement between GCC member states and the European Free Trade Association (EFTA) signed in Hamar in Norway on June 26, 2009.
Pakistan expects to seal Free Trade Agreement (FTAs) with two promising regional groupings to boost the country’s trade performance, Secretary Commerce, Zafar Mahmood has said. “Pakistan is to sign the agreements with ASEAN and the Gulf Cooperation Council,” he said in an interview here following the conclusion of Pakistan Malaysia Business Forum and the meeting of Joint Review Committee on FTA
Aiming to explore further trade and investment opportunities in many areas, the Sultanate will host the first GCC-Asean Business Forum in February next year.
Officials at the GCC and Asean countries stressed the importance of enhancing co-operation in the fields of trade and investment and exploring the possibility of negotiation regarding the Free Trade Agreement between the two groups.
The Common Market for Eastern and Southern Africa (Comesa) has signalled intentions to expand presence in the Middle East to enhance Arab-African trade relations, despite political turmoil in the region.
Peru is pushing for a free-trade agreement with with Arab states of the Persian Gulf as it aggressively expands beyond pacts it has implemented with China and the United States, state-run media said on Friday.
Malaysia and the Gulf Cooperation Council signed a landmark framework agreement to boost economic, commercial, investment and technical cooperation between them.
The framework of the cooperation agreement between Malaysia and the Gulf Cooperation Council countries has been completed and the next step is to sign the free trade agreement, according to Minister of International Trade and Industry Datuk Seri Mustapa Mohamed.