Pakistan and the Gulf Cooperation Council (GCC) have concluded the ultimate spherical of negotiations on the Pakistan-GCC FTA (PAK-GCC FTA) at Riyadh, Saudi Arabia.
Pakistan and the GCC finalised the Free Commerce Settlement, based on a press launch issued right here on Friday.
Federal Minister for Commerce, Dr. Ejaz, and Secretary Basic GCC signed the joint assertion of the Pakistan-GCC FTA (PAK-GCC FTA) in Riyadh, Saudi Arabia.
The ultimate spherical was held from September 26-28 on the GCC Headquarters, Riyadh.
It is a important growth because the FTA is the primary by GCC with any nation since 2009 and marks a milestone in either side’ financial cooperation.
Talking on the event, Dr. Gohar Ejaz stated that Pakistan has wonderful relations with all of the international locations of the GCC and this FTA will be sure that our financial ties are commensurate with these relations.
On the event of the profitable conclusion and finalization of the FTA negotiations, a joint assertion was signed by Pakistan’s Federal Minister for Commerce and Trade, Dr. Gohar Ejaz and the Secretary Basic of GCC, H.E. Jasem Mohamed Albudaiwi.
“Each Events seemed ahead to the expeditious signing, ratification, and implementation of the Settlement, which is able to mark a brand new chapter within the financial relations between our events” the assertion reads.
It will now be adopted by an inner administrative and approval course of earlier than signing and entry into drive of the settlement.