GCC countries and Indonesia held the first round of free trade agreement negotiations on September 9–13 in Jakarta.
In a press release from GAFT received in Jakarta, Tuesday, the Saudi negotiating team oversees and monitors the trade negotiations to ensure that they are consistent with the Kingdom's trade objectives and policies, participates in trade negotiations to incorporate the Kingdom's negotiating positions, and coordinates with countries with similar objectives in international trade.
The General Authority for Foreign Trade (GAFT), represented by Deputy Governor of International Organizations and Agreements, Fareed Alasaly, headed the Saudi negotiating team.
That team consists of nine technical teams, namely goods, services, investment, general texts and provisions, electronic commerce, intellectual property, government procurement, rules of origin, and economic evaluation.
These teams participate with 46 governmental entities, prepare and coordinate the Kingdom's negotiations, initiatives, and proposals at the World Trade Organization (WTO) and free trade agreements and report back to the Saudi negotiating group.
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The first round of the free trade agreement negotiations discusses several topics such as goods trade, services, investment, custom procedures, rules of origin, technical barriers to trade, sanitary and phytosanitary measures, trade facilitation, digital trade and trade remedies.
It aims to exchange information and data, discuss trade challenges and opportunities among the parties involved and also build confidence and partnership through cooperation and joint coordination to reach a comprehensive final agreement.
This round is an extension of the signing of the Joint Statement on the Start of Free Trade Negotiations by the General Secretariat and the Indonesian side last July, which aims to enhance cooperation and economic relations.
According to data, trade between Saudi Arabia and Indonesia reached about US$7 billion in 2023.
Mineral and organic chemical products were the most exported Saudi commodities, and vehicles and parts thereof, and grease and animal or vegetable oils were among Indonesia's most imported commodities.
GAFT promotes the Kingdom's international trade gains, increasing its international presence and active participation in many international organizations to ensure the achievement of common goals and sustainable development, according to the statement.
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Reporter: Asri Mayang Sari
Editor: Yuni Arisandy Sinaga
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