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GCC, South Korea Conclude 5th Round of FTA Negotiations

GCC, South Korea Conclude 5th Round of FTA Negotiations

Friday, 10 June, 2022 - 16:45
A night view of Riyadh, Saudi Arabia.

The Gulf Cooperation Council (GCC) and South Korea concluded in Riyadh on Thursday the fifth round of negotiations on a free trade agreement (FTA), reported the Saudi Press Agency.

The two sides launched their negotiations on June 6, during which they tackled many topics aimed at increasing the flow of intra-trade, boosting investments, and opening global markets to the exports of the GCC member states.

General Coordinator of Negotiations and Head of the GCC Negotiating Team, Abdurrahman bin Ahmed Al-Harbi stated that such agreements are in line with the directives of the leaders of GCC member states that aim at strengthening the position of the Council and supporting its strategic relations with its partners around the world.

He said the agreement, which is under negotiation, will help bolster common gains, stimulate economic, commercial and investment growth in the GCC countries, support entrepreneurship and strengthen the business sectors in the GCC countries.

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