RIYADH: The General Authority for Foreign Trade led the Saudi delegation at the first round of negotiations for a free trade agreement between the Gulf Cooperation Council and Japan, which took place from Dec. 10-12.
Represented by Fareed bin Saeed Al-Asali, the deputy governor for Agreements and International Organizations and head of the Saudi negotiation team, the Saudi team is overlooking the progress of the negotiations. It consists of nine subcommittees focusing on goods, services, general texts and provisions, e-commerce, intellectual property, government procurement, rules of origin, investment and economic evaluation.
The subcommittees include members from 46 government entities working together to prepare the Kingdom’s negotiating positions for discussions within the World Trade Organization, FTAs, and related initiatives.
In 2023, trade exchange between Saudi Arabia and Japan amounted to approximately 6 trillion yen ($41 billion). The Kingdom’s primary exports include mineral and organic chemical products, while Japan predominantly exports vehicles and machinery, along with their respective spare parts.
The GAFT plays an important role in expanding Saudi Arabia’s global presence and ensuring its active participation in international organizations in order to achieve common goals.
