The Gulf Cooperation Council and Pakistan initialed a free trade agreement in an effort to enhance trade relations and economic cooperation between the two sides.
The General Secretariat of the Council said in a statement that the agreement was signed by the Secretary-General of the Council, Jassim Al-Budaiwi, and the Pakistani Minister of Commerce, Dr. Gohar Ijaz, yesterday evening, Thursday, at the Secretariat’s headquarters in Riyadh.
The statement quoted Al-Budaiwi as saying that the free trade initials agreement between the Gulf Cooperation Council and Pakistan comes in recognition of the importance of strengthening trade relations and economic cooperation with countries and international blocs.
He pointed out that this historic economic agreement represents an important turning point in cooperation and will contribute to growth and prosperity in a way that serves the common interests of both sides.
He stressed that the GCC countries are moving forward with the file of free trade negotiations between the GCC countries and other countries with the aim of opening and enhancing the prospects for trade and economic cooperation for the GCC countries regionally and internationally.
The Secretary-General of the Council expressed his thanks and appreciation to the negotiating teams from the GCC countries and the General Secretariat for their efforts and dedication to the negotiations with Pakistan leading to the signing of this agreement.
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