Wednesday, May 18, 2016

Free trade agreement talks between GCC & China gain momentum

THE PENINSULA - May 16, 2016

The talks between GCC countries and China to reach a Free Trade Agreement (FTA) have gained momentum. Once implemented, the agreement will further boost cooperation and the volume of trade between the two sides.
“The GCC countries and China are currently negotiating a free trade agreement between both parties. There has been a number of negotiation rounds so far, during which a number of topics was discussed. Both parties have achieved good results in those rounds and are exerting efforts to complete the discussion of all topics and issues related to the agreement,” said Abdul Raheem Hassan Naqi, Secretary General of the Federation of GCC Chambers yesterday at a press conference held at the Qatar Chamber headquarters to announce the second edition of ‘Made in China Exhibition’.
He said that total value of the GCC exports to China was $101bn in 2014, equal to 11.7 percent of the total value of the GCC exports to the whole world for the same year. The total value of the GCC exports to China witnessed an increase in the period 2010-2014 with an annual growth average of 17.8 percent.


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