The second round of the free trade agreement between the GCC and the Republic of Indonesia concluded, which was held during 3 – 6 February 2025, Riyadh, with the participation of the Kingdom of Saudi Arabia, chaired by the General Authority of Foreign Trade, along 15 government entities.
The second round discussed numerous topics of trade in goods, services, investment, economic cooperation, dispute settlement, texts and provisions, communication services, financial services, intellectual property rights, technical barriers to trade, sanitary and phytosanitary measures, rules of origin, digital trade, and Islamic economy. The round aims to continue the negotiation process that began last September, achieving notable progress
The Deputy Governor of the Authority for International Organizations and Agreements, Chairman of the Saudi Negotiation Team, Mr. Fareed Alasaly affirmed that the Republic of Indonesia is a strategic partner of the GCC, due to its economic influence as the largest economy in southeast Asia, and availability of investment and trade opportunities that contributes in thew growth of flourished economy of the two sides.
The Saudi Negotiation Team included the participation of the Ministry of Commerce, Ministry of Interior, Ministry of Energy, Ministry of Investment, Ministry of Environment, Water, and Agriculture, Ministry of Industry and Mineral Resources, Ministry of Economy and Planning, the General Authority of Foreign Trade, Saudi Food & Drug Authority, Saudi Authority of Intellectual Property, Saudi Standers, Saudi Export Development Authority, Communication, Space & Technology Commission, Zakat, Tax, and Customs Commission, and Saudi Central Bank.
GAFT functions to enhance the Kingdom's international trade gains, increase its global presence, and enhance its effective participation in numerous international organizations; to ensure the achievement of joint goals and enduring development.