ANKARA — The first round of free trade agreement negotiations between the GCC countries and Türkiye concluded in Ankara on July 29-31, 2024, with the participation of nine Saudi government entities.

The initial discussions covered several topics, including trade in goods, services, investment, rules of origin, technical barriers to trade, and sanitary and phytosanitary measures. The goal was to agree on the principles for proceeding with negotiations and to set the framework and objectives for future rounds, aiming to finalize the agreement as soon as possible.

With high flexibility from all parties and recognizing the importance of concluding the agreement promptly, the first round of negotiations was positive, indicating increased integration among all parties.

Deputy Governor of International Organizations and Agreements and Chairman of the Saudi Negotiating Team Fareed Alasaly stressed the importance of these rounds in working towards consensus and reaching an appropriate and fair free trade agreement for all.

Alasaly also noted the Kingdom's desire to conclude and develop free trade agreements in partnership with the GCC, which is seen as a crucial tool for achieving economic integration, diversifying the economy, and enhancing competitiveness.

The Kingdom's delegation was headed by the General Authority for Foreign Trade and included representatives from the Ministry of Energy, Ministry of Investment, Ministry of Environment, Water and Agriculture, Ministry of Industry and Mineral Resources, Ministry of Economy and Planning, Saudi Food and Drug Authority, Zakat, Tax and Customs Authority, and the Saudi Standards.

To achieve common goals and sustainable development, GAFT promotes the Kingdom's international trade gains, increasing its international presence and active participation in many international organizations. — SG