The first round of free trade agreement negotiations between the GCC countries and the Republic of Indonesia was concluded in Jakarta, on September 9–13, 2024, with the participation of (11) Saudi government entities.
The first round discusses several topics such as goods trade, services, investment, custom procedures, rules of origin, technical barriers to trade, and sanitary and phytosanitary measures, trade facilitation, digital trade and trade remedies, aiming to agree on the principles on which negotiations will proceed, as well as setting the framework for future negotiating rounds and their objectives to finalize negotiations within 24 months.
Deputy Governor of International Organizations and Agreements and Chairman of the Saudi Negotiating Team, Mr. Fareed Alasaly, expressed his pleasure at the successful conclusion of the first round of negotiations, reflecting the common determination to strengthen economic and trade relations between the GCC countries and Indonesia, as it is a significant step to build a strong strategic partnership.
The Deputy Governor also noted the upcoming rounds will see remarkable progress in the negotiations, given the commitment of all parties to reach an agreement that will ensure greater trade and investment opportunities between the two sides, leading to mutual economic growth and success, and contribute to the realization of the economic vision of two sides.
The Kingdom delegation participates in this round headed by the General Authority for Foreign Trade, with the participation of: the Ministry of Commerce, the Ministry of Energy, the Ministry of Investment, the Ministry of Environment, Water and Agriculture, the Ministry of Industry and Mineral Resources, the Ministry of Economy and Planning, the Saudi Food and Drug Authority, the Zakat, Tax and Customs Authority, Saudi Standards, Metrology and Quality Organization, Saudi Exports, and the Saudi Central Bank.
To ensure the achievement of common goals and sustainable development, GAFT promotes the Kingdom's international trade gains, increasing its international presence and active participation in many international organizations.