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  • Ahmed Saleh

GCC and Turkey initiate Free Trade Agreement negotiations, strengthening partnership

Ankara, March 21, 2024, Today, Gulf Cooperation Council (GCC) Secretary General Jasem Mohamed Albudaiwi and Republic of Turkiye Minister of Trade Dr. Omer Bolat have inked an agreement to commence negotiations on a Free Trade Agreement (FTA). This move, as described by Albudaiwi, underscores the robust and strategic partnership existing between the two entities.

Albudaiwi emphasized that the agreement exemplifies the successful collaboration both regionally and internationally in the realms of commerce, economics, and finance. He highlighted the symbiotic relationship between Turkiye and the GCC nations, which serves to enhance economic ties. Furthermore, there is a shared commitment to deepen cooperation in order to broaden trade and investment opportunities.

Underscoring the GCC's proactive stance, Albudaiwi emphasized ongoing negotiations with various nations to facilitate trade openings, bolster economic cooperation, and expand market access for their products and services. This concerted effort aligns with the GCC's overarching objective to diversify revenue streams and foster economic expansion.

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