Jakarta (UNA/QNA) - Mr. Jassim Mohammed Al-Budaiwi, Secretary-General of the Gulf Cooperation Council, and Dr. Zulkifli Hassan, Minister of Trade of Indonesia, signed the joint statement to launch the free trade agreement negotiations between the Gulf Cooperation Council countries and Indonesia.
The Gulf and Indonesian sides stressed the importance of increasing cooperation between the Gulf Cooperation Council and Indonesia with the aim of strengthening economic relations to serve common interests.
The two sides explained that signing the joint statement to begin free trade negotiations will lead to the conclusion of a free trade agreement that will provide valuable foundations for expanding trade and investment and enhancing cooperation between the two sides, in addition to framing legislation, laws and procedures that govern investments between the two sides, establish implementation mechanisms and provide new job opportunities.
Al-Budaiwi said that the signing comes in implementation of the directives of the leaders of the GCC countries to strengthen their relations with their international partners, as Indonesia is considered one of the GCC priorities in the free trade agreement negotiations. He added that the agreement will be an important platform for achieving the economic visions of the GCC countries and their strategic plans for economic diversification.
He stressed that the first round of free trade agreement negotiations between the GCC countries and Indonesia will begin in 2024. It will be concluded within twenty-four months, according to what was agreed upon between the two sides.
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