Launch of negotiations on a free trade agreement between the Gulf States and Indonesia

The Secretary-General of the Cooperation Council for the Arab States of the Gulf (GCC) Jassim Mohammed Al-Budaiwi and the Minister of Trade of the Republic of Indonesia Zulkifli Hassan signed today, Wednesday, in Riyadh, the joint statement to start negotiations on the free trade agreement between the Cooperation Council for the Arab States of the Gulf (GCC) and the Republic of Indonesia.

The Gulf and Indonesian sides stressed that signing the joint statement to start negotiations on the free trade agreement between the Cooperation Council for the Arab States of the Gulf (GCC) and the Republic of Indonesia, which will lead to the conclusion of the free trade agreement between the Cooperation Council for the Arab States of the Gulf (GCC) and Indonesia, will provide valuable foundations for expanding trade and investment and achieving greater cooperation between the two sides, as well as framing the legislation, laws and procedures governing investments between the two sides and setting mechanisms for their implementation and providing new job opportunities.

The Secretary-General of the Cooperation Council said: "The signing of the joint statement today between the two sides comes in implementation of the directives of the leaders of the GCC countries to strengthen the relations of the GCC countries with their international partners, and the Republic of Indonesia is one of the priorities of the Cooperation Council in the negotiations on the free trade agreement, which expresses the desire of the two sides to strengthen the distinguished relations existing between them, especially the economic ones."

He pointed out that the free trade agreement between the GCC and the Republic of Indonesia will also be an important platform for achieving the economic visions of the GCC countries and their strategic plans for economic diversification, stressing at the same time that the first round of negotiations on the free trade agreement between the GCC countries and Indonesia will begin in 2024 and will conclude within twenty-four months.