ISLAMABAD-In a historic second, the Pakistan-Gulf Cooperation Council Free Commerce Settlement (Pak-GCC FTA) was ceremoniously inked on Friday.
This ushers in a promising period for commerce and financial relations between Pakistan and the GCC member states. Commerce Minister, Dr Gohar Ejaz expressed heartfelt gratitude to Dr Majid bin Abdullah Al-Qasabi, the Minister of Commerce and Chairman of the Normal Authority for International Commerce of Saudi Arabia. Dr Gohar Ejaz prolonged his honest appreciation for the distinctive management demonstrated by Dr Majid all through the in depth negotiation technique of the FTA. His unwavering dedication ensured that the FTA aligns seamlessly with the shared imaginative and prescient of the GCC and Pakistan.
Dr. Gohar Ejaz emphasised that the hearts of Pakistanis and the folks of GCC nations already beat in unison, and now their commerce is about to be seamlessly built-in. This second marks a major step in direction of elevating commerce relations to match the excellent brotherly ties that exist between the 2 events.
This FTA represents essentially the most complete and up to date commerce settlement that Pakistan has ever signed with any nation. It encompasses not solely commerce in items but additionally extends to commerce in companies, together with digital commerce, mental property rights, tourism, requirements, and funding. This holistic method is poised to stimulate financial development and exercise all through the area, in the end leading to job creation and an enhanced lifestyle for the folks of each areas.
With negotiations now efficiently concluded, the interior processes for signing, ratification, and swift implementation of the FTA are set to start. This expedited method goals to make sure that each events swiftly reap the advantages of this historic settlement.