RIYADH: Negotiations over a free trade agreement between the Gulf Cooperation Council and Japan advanced further this week as officials from both sides convened in Tokyo to review progress and explore ways to accelerate discussions.
The meeting, held between GCC Secretary-General Jasem Al-Budaiwi and Japan’s Vice Minister of Economy, Trade and Industry Kato Akiyoshi, focused on the strategic potential of the proposed accord and recent developments in the negotiation process, the Saudi Press Agency reported.
The second round of negotiations for the agreement had concluded in Tokyo in early June, covering a wide range of issues including goods, technical barriers, terms of services, financial and telecommunications services, and intellectual property.
A government delegation led by the General Authority for Foreign Trade took part in those discussions, reviewing proposals aimed at strengthening trade relations, identifying areas for cooperation, and fostering new partnerships.
At this week’s meeting, both sides reiterated that a free trade agreement would represent a pivotal step toward expanding trade flows, enhancing economic links, and establishing a framework for long-term cooperation.
“Al-Budaiwi reviewed a number of economic indicators and statistics for the GCC countries, noting that the GCC countries’ distinguished economic performance, and the sustainable growth and development they are witnessing in various sectors, have contributed to strengthening their position regionally and internationally,” SPA’s report stated.
The officials stated that the accord could open broader avenues for exchange and contribute to a sustainable economic partnership serving shared interests.
