Gulf Cooperation Council and Japan to resume discussions on free trade agreement (photo)

On Sunday, the Gulf Cooperation Council and Japan announced the resumption of negotiations on a free trade agreement.

The parties signed a joint statement to resume talks on the sidelines of a meeting held by Japanese Prime Minister Fumio Kishida and GCC Secretary General Jassim Muhammad Al-Budaiwi.

Jassim Muhammad Al-Budaiwi explained that this is happening in pursuance of the directives of the Council of Ministers to conclude free trade agreements with trading partners of the GCC countries within the list of priorities that he approved at his meeting held in June 2022, and Japan is one of the priorities of the Council cooperation through which it seeks to strengthen its strategic, economic, investment and investment relationships.

Al-Budaiwi expressed the desire of the GCC states to strengthen trade and investment relations between the two parties, as well as his role in starting a new era of partnership aimed at providing many opportunities for joint growth for the two business communities, especially in priority industries.

He added that this agreement will pave the way for the development of a comprehensive economic structure based on mutual interests, which will establish closer strategic cooperation, promote innovation, stimulate economic growth and provide jobs for both parties.

He concluded his speech by emphasizing the strategic and important relationship between the GCC states and Japan, covering all aspects, primarily the high level of political coordination and cooperation in the field of energy and trade exchange, pointing out that Japan ranks fourth in the Persian Gulf. the country’s exports, valued at $76.7 billion, and ranks fourth in terms of imports by the Gulf countries, valued at $22 billion.

Source: SPA

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