According to him, the first round of I-GCC FTA negotiations will be carried out in September 2024.
Hasan said in Jakarta on Wednesday that Indonesia and GCC have agreed to hold a seminar that will involve large business players from Indonesia and GCC countries after the second round of negotiations.
From the meeting, the potential of trade that Indonesia and GCC countries can carry out is expected to be determined.
In 2023, the total value of trade between Indonesia and GCC reached 15.7 billion US dollars.
According to him, the value is still small because it has been obtained from the combined value of trade with several countries.
The minister noted that trade between Indonesia and GCC countries is not yet optimal because there are still many obstacles, one of which is related to standardization.
"If we want to send medical services, the standards are not the same; if we want to send fish food products, the health standards are not the same. Sending (goods) is difficult because there is no agreement on trade," he expounded.
Indonesia and GCC–which comprises Saudi Arabia, the United Arab Emirates, Kuwait, Bahrain, Oman, and Qatar–launched the I-GCC FTA negotiations in Jakarta on Wednesday.
The I-GCC FTA is Indonesia's third trade agreement with trading partners in the Middle East region after agreements with the United Arab Emirates and Iran.
Translator: Maria Cicilia, Raka Adji
Editor: Aditya Eko Sigit Wicaksono
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