At the completion of their final round of negotiations in Riyadh, Dr. Gohar Ejaz, Minister for Commerce and Industry, and Jasem Mohamed Albudaiwi, Secretary General of the Gulf Cooperation Council, signed a joint statement in this respect.
Both sides expressed their eagerness for the Agreement’s quick signing, ratification, and implementation in a joint statement.
The agreement will now go through an internal administrative and approval process before being signed and coming into effect.
This is a significant development because it is the GCC’s first free trade agreement with a nation since 2009 and it represents a turning point in the economic cooperation between the two sides.
