GAFT Leads 1st Round of GCC-Indonesia FTA Negotiations

General Authority of Foreign Trade (GAFT) Deputy Governor Fareed bin Saeed Al-Asali led the Saudi delegation at the first round of Free Trade Agreement negotiations between the Gulf Cooperation Council (GCC) and the Republic of Indonesia, held in Jakarta from September 9 to 31. The Saudi team is overseeing the commercial negotiations to ensure that they align with the Kingdom's trade objectives and policies. It consists of nine technical sub-teams that focus on the following areas: goods, services, investment, general provisions, e-commerce, intellectual property, government procurement, rules of origin, and economic evaluation. These teams, made up of representatives of 46 government entities, are responsible for preparing and coordinating Saudi Arabia's negotiating positions and proposals for discussions at the World Trade Organization and for free trade agreements. In 2023, the volume of trade between Saudi Arabia and Indonesia was approximately $7 billion. Key Saudi exports to Indonesia included me tal products and organic chemicals, while major Indonesian exports to Saudi Arabia were vehicles and their parts, animal and vegetable fats and oils. Source: Saudi Press Agency