Saudi Arabia participates in 1st round of GCC-Japan FTA talks

Saudi Gazette report

RIYADH — Deputy Governor of the Saudi General Authority of Foreign Trade (GAFT) Farid Al-Asali is leading Saudi Arabia’s delegation participating in the first round of negotiations on the Free Trade Agreement between GCC countries and Japan, in Riyadh from 10 to 12 December.

The Saudi negotiating team consists of 9 technical teams (goods, services, general texts and provisions, e-commerce, intellectual property, government procurement, rules of origin, investment, and economic evaluation).

The team’s specialization is in preparing and coordinating Saudi Arabia’s negotiating positions, views on negotiations, initiatives and proposals in the World Trade Organization and free trade agreements, and submitting the necessary reports to the Saudi negotiating team in this regard.

They also supervise and follow up on the progress of trade negotiations to ensure their compatibility with Saudi Arabia’s trade objectives and policies and participate in trade negotiations to put across Saudi Arabia’s negotiating positions.

The volume of trade exchange between Saudi Arabia and Japan during 2023 amounted to about 741 billion, as mineral products and organic chemical products were the most prominent Saudi exported goods, while cars and their parts, machines and mechanical tools and their parts were the most prominent Japanese imported goods.

GAFT works to enhance Saudi Arabia’s international trade gains, increase its international presence and effective participation in a number of international organizations to ensure the achievement of common goals and sustainable development.

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