RIYADH: According to the Saudi Press Agency, the first round of talks for a free trade agreement between Indonesia and the Gulf Cooperation Council will start in Jakarta.
The goal of the September 9–13 negotiations is to establish the framework for a comprehensive trade agreement with a particular emphasis on strengthening economic cooperation between the bloc and the countries of Southeast Asia.
Trade in goods and services, investment, and customs processes will be among the main topics of conversation, along with origin regulations, technological obstacles, hygienic and phytosanitary precautions, digital trade, and trade remedies.
The goal of the first round is to establish the agreement’s guiding principles, with a 24-month timeline for finalisation. Along with addressing trade-related issues, the negotiations will foster mutual trust, make information sharing easier, and open the door to more discussions.
The official beginning of the talks was signalled by a joint statement that the Indonesian government and the GCC Secretariat signed in July.
It is anticipated that the potential agreement will provide preferential access to the Indonesian market for Gulf goods and services by means of tariff reductions, streamlined regulations, and simplified customs procedures.
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