Japanese Ambassador to Maaal: Free trade negotiations between Japan and GCC to be resumed within two months

The Japanese ambassador to the Kingdom of Saudi Arabia, Fumio Iwai, revealed to (Maaal) the resumption of official negotiations on the free trade agreement between Japan and the Gulf Cooperation Council countries during this summer or within two months.

Iwai added: During the visit of Japanese Prime Minister Fumio Kishida to the Kingdom last July, the Gulf Cooperation Council and Japan agreed to resume negotiations on a free trade agreement. Since then, an informal preparatory meeting has been held several times, and I hope that we can resume formal negotiations on a free trade agreement between Japan and the GCC countries soon.

Speaking to the newspaper (Maaal), the Japanese ambassador continued, “We need approval from the Gulf Cooperation Council, and I know that the Gulf Cooperation Council countries are busy with a very busy schedule in free trade negotiations with many countries, and therefore it is only a matter of the time available for both teams.”

The Gulf countries are working to open new markets to the Gulf Cooperation Council by entering into intensive negotiations with several countries to sign free trade agreements, with Britain, China, New Zealand, Turkey, India and Japan. Free trade negotiations have also been completed and the initials have been signed between each of Pakistan. South Korea and the Gulf Cooperation Council countries.

Regarding the development of trade relations between the Kingdom and Japan, the ambassador said, “We recently held the Japanese-Saudi Business Forum for the Japanese-Saudi Vision 2030 in Tokyo, and on that occasion, some Japanese and Saudi companies agreed to joint cooperation, and the two countries also signed more than 30 memorandums of understanding in the fields of energy and clean energy.” manufacturing, financial activities, and mutual funds.