Positive vibes prevailed at the end of the first round of free trade agreement negotiations between Turkiye and the members of the Gulf Cooperation Council.
Nine other government agencies and Saudi Arabia, represented by the General Authority for Foreign Trade, made substantial contributions to the talks that were held in Ankara from July 29 to July 31.
The Saudi Press Agency stated that a variety of subjects were discussed, including investment, sanitary and phytosanitary measures, trade in goods and services, laws of origin, and technical trade barriers.
The parties attempted to create a framework for future rounds of negotiations by establishing the guiding principles and foundations for future discussions on these subjects during this first round of negotiations.
“The first round of negotiations was characterized by positivity, with high flexibility from all parties, recognizing the importance of concluding the agreement at the target time; to increase the level of integration between all parties,” according to the SPA report.
The round was the result of years of repairing the two sides’ economic relations and the signing of a joint declaration in March to begin the free trade agreement.
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