Kopar Khairane
Interenational

Pakistan and the Gulf nations sign a first free trade deal

<p>After finishing their last round of discussions in Riyadh, Saudi Arabia, Pakistan and the Gulf Cooperation Council (GCC) have inked a free trade agreement (FTA), according to local media.<img decoding=”async” class=”alignnone wp-image-213028″ src=”https://www.theindiaprint.com/wp-content/uploads/2023/09/theindiaprint.com-download-2023-09-30t154543.553-11zon-1.jpg” alt=”theindiaprint.com download 2023 09 30t154543.553 11zon 1″ width=”1072″ height=”643″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2023/09/theindiaprint.com-download-2023-09-30t154543.553-11zon-1.jpg 290w, https://www.theindiaprint.com/wp-content/uploads/2023/09/theindiaprint.com-download-2023-09-30t154543.553-11zon-1-150×90.jpg 150w” sizes=”(max-width: 1072px) 100vw, 1072px” title=”Pakistan and the Gulf nations sign a first free trade deal 9″></p>
<p>The joint declaration for the Pakistan-GCC Free Trade Agreement was signed by interim Pakistani Commerce Minister Gohar Ejaz and GCC Secretary General Jasem Mohamed Albudaiwi.</p>
<p>According to a joint statement released by both sides, “both parties looked forward to the expeditious signing, ratification, and implementation of the agreement, which will mark a new chapter in our economic relations,” Geo News said.</p>
<p>From September 26 to September 28, the final round was place in the GCC Headquarters in Saudi Arabia’s capital.<br />
This is an important event since the FTA represents a turning point in both sides’ economic cooperation and is the first FTA between the GCC and any nation since 2009, according to Geo News.</p>
<p>The FTA would make sure that Pakistan’s economic connections are comparable with its strong relations with all of the GCC members, according to Ejaz, who spoke at the event.</p>
<p>The agreement will now go through an internal administrative and approval procedure before being signed and coming into effect.</p>
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