https://sputniknews.in/20231203/pakistan--saudi-arabia-advance-towards-gcc-free-trade-deal-boosting-economic-ties-5690814.html
Pakistan & Saudi Arabia Advance Towards GCC Free Trade Deal, Boosting Economic Ties
Pakistan & Saudi Arabia Advance Towards GCC Free Trade Deal, Boosting Economic Ties
Sputnik India
Pakistan and Saudi Arabia agree on investments, progressing toward a GCC free trade deal, set to enhance trade, investment, and job prospects.
2023-12-03T19:52+0530
2023-12-03T19:52+0530
2023-12-03T19:52+0530
business & economy
saudi arabia
pakistan
economic crisis
economics
trade corridor
free trade agreement (fta)
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Pakistan and Saudi Arabia have successfully established consensus on the investment modalities, clearing the pathway for the much-anticipated ratification of a free trade agreement with the Gulf Cooperation Council (GCC), revealed Pakistan's Information Minister, Murtaza Solangi, on Sunday.Minister Gohar Ejaz, leading a delegation focused on commerce and industries, engaged in discussions with the GCC's chief negotiator in Saudi Arabia. The primary objective of these talks was to finalize the investment-related aspects of the GCC Free Trade Agreement.Additionally, both parties explored the prospect of organizing a joint business forum shortly to foster trade and investment initiatives between Pakistan and the GCC.The impending GCC FTA is anticipated to significantly enhance trade and investment activities between Pakistan and the GCC. Furthermore, the agreement holds the potential to generate fresh employment opportunities and open new avenues for businesses in both regions.
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pakistan, saudi arabia, pakistan and saudi arabia, economic situation in pakistan, pakistan free trade agreement
pakistan, saudi arabia, pakistan and saudi arabia, economic situation in pakistan, pakistan free trade agreement
Pakistan & Saudi Arabia Advance Towards GCC Free Trade Deal, Boosting Economic Ties
Pakistan and Saudi Arabia agree on investments, progressing toward a GCC free trade deal, set to enhance trade, investment, and job prospects.
Pakistan and Saudi Arabia have successfully established consensus on the investment modalities, clearing the pathway for the much-anticipated ratification of a free trade agreement with the Gulf Cooperation Council (GCC), revealed Pakistan's Information Minister, Murtaza Solangi, on Sunday.
Minister Gohar Ejaz, leading a delegation focused on commerce and industries, engaged in discussions with the GCC's chief negotiator in Saudi Arabia. The primary objective of these talks was to finalize the investment-related aspects of the GCC Free Trade Agreement.
"Pakistan and Saudi Arabia have reached a consensus on the investment modalities, paving the path for the ratification of a much-awaited free trade agreement with the Gulf Cooperation Council, a development that has been pending for the last 19 years. If approved, this will mark the first trade and investment agreement that the GCC has entered into with any country in the past 15 years," Solangi said, in a statement posted on X (formerly Twitter).
Additionally, both parties explored the prospect of organizing a
joint business forum shortly to foster trade and investment initiatives between Pakistan and the GCC.
The impending GCC FTA is anticipated to significantly enhance trade and investment activities between Pakistan and the GCC. Furthermore, the agreement holds the potential to generate fresh employment opportunities and open new avenues for businesses in both regions.
