5 October 2023: The Gulf Cooperation Council (GCC) and Pakistan have signed a free trade agreement (FTA) following the conclusion of the final round of negotiations between the two sides in Riyadh, Saudi Arabia, reports said.
GCC Secretary General Jasem Mohamed Albudaiwi and Pakistan Caretaker Commerce Minister Gohar Ejaz inked the joint statement for the GCC-Pakistan FTA.
“Both parties looked forward to the expeditious signing, ratification, and implementation of the agreement, which will mark a new chapter in the economic relations between our parties,” a joint statement issued by both parties stated, Geo News reported.
The final round was held from September 26-28 at the GCC Headquarters in the Saudi capital.
The FTA is the first by GCC with any country since 2009 and marks a milestone in both sides’ economic cooperation, Geo News added.