TOKYO: Farid bin Saeed Al-Asali, the General Authority for Foreign Trade’s deputy governor for international agreements and organizations, is in Tokyo to lead the Kingdom’s delegation in the second round of negotiations on the free trade agreement between the GCC and Japan, which began on June 30 and will run until July 4.
According to GAFT, the Saudi negotiating team includes nine technical teams focused on goods, services, investment, e-commerce, intellectual property, and government procurement.
Comprising 46 government agencies, the teams prepare the Kingdom’s positions on negotiations and proposals within the World Trade Organization and free trade agreements, and submit relevant reports to the negotiating team.
In 2024, the trade volume between Saudi Arabia and Japan reached about $36 billion. The most significant exports from the Kingdom were mineral products and organic chemical products. In contrast, the primary imports from Japan included automobiles and automotive components, as well as machinery and mechanical tools.
Overall, Saudi Arabia’s exports totaled about $28 billion, while imports amounted to around $8 billion.
The Saudi team oversees and monitors the progress of trade negotiations to ensure they align with the Kingdom’s trade objectives and policies. Additionally, the team participates in the negotiations to incorporate the Kingdom’s positions, making their role integral to the process.
The General Authority for Foreign Trade aims to enhance trade gains, strengthen global presence, and engage with international organizations for sustainable development. The authority plays a crucial role in negotiations, representing the Kingdom’s interests and ensuring trade agreements align with its objectives.
