Minister for Commerce and Industry, Dr. Gohar Ejaz and the Gulf Cooperation Council Secretary General Jasem Mohamed Albudaiwi signed joint statement in this regard at the conclusion of their final round of negotiations in Riyadh.

The joint statement said both parties look forward to expeditious signing, ratification, and implementation of the Agreement.

This will now be followed by an internal administrative and approval process before signing and entry into force of the agreement.

This is a significant development, as it is the first Free Trade Agreement by the GCC with any country since 2009 and marks a milestone in both sides’ economic cooperation.