The Free Trade Agreement (FTA) between Bahrain and the US has been operational since August 1, and on September 19, the US Congress approved the FTA with Oman, which will come into effect soon. The media coverage of the two deals in the region have been limited to official announcements without pointing out the serious dangers these FTAs pose to the GCC customs union.
Energy-poor Japan and the GCC states are expected to meet again in Saudi Arabia by the end of this year for a second round on negotiations on Free Trade Agreement (FTA) in a bid to secure stable fuel supplies.
Japan and six Middle Eastern countries including Saudi Arabia on Thursday began the first round of talks on a free trade agreement, a Japanese Foreign Ministry official said.
The proposed free trade agreement (FTA) between India and the Gulf Cooperation Council (GCC) has hit a roadblock with the Indian industry, especially the petrochemical sector, opposing the agreement.
Weak implantation of intellectual property right (IPR) in the country and different legal systems operative in the member-nations of the Gulf Cooperation Council (GCC-6) have led them to seek individual free trade agreements (FTAs) with India.
The Dubai Chamber of Commerce and Industry (DCCI) said that Jordan is a potential market for the UAE, and the UAE could win a good chunk of Saudi Arabia's trade with Jordan.
Foreign Ministers from the six Gulf Cooperation Council (GCC) member states have agreed to commence negotiations for a free trade agreement with New Zealand, Trade Minister, Phil Goff announced today.
The Foreign Ministers from the six Gulf Cooperation Council (GCC) member states - Saudi Arabia, Kuwait, Bahrain, Qatar, the United Arab Emirates and Oman - have agreed to begin negotiations for a free trade agreement with New Zealand.
Oman today said India and the six-nation Gulf Cooperation Council should create a fast-track mechanism for early completion of negotiations on the proposed Free Trade Agreement to boost economic engagement.
The ongoing negotiations between the GCC and the EU to reach a free trade agreement are achieving remarkable progress and the agreement is expected to be signed before the end of this year as planned, according to an EU official.