GCC, India likely to sign FTA next year
MENAFN - 26/03/2006
GCC, India likely to sign FTA next year
(MENAFN) India’s minister of commerce and industry said that GCC countries and India possibly will sign a Free Trade Agreement (FTA) by early next year, Gulf News reported.
The minister said that that India and GCC decided to work to finalize the FTA by early 2007, and added that the two parties had agreed to expand the scope of the agreement to include services and investments, thus making it a Comprehensive Economic Cooperation Agreement instead of a mere FTA.
The minister said that the strategic relevance of the Gulf region for India is immense, and that India greatly value the growing relations between our countries.
The official added that India would offer to share its expertise in health, information technology and small-scale industries with the GCC countries.
