The Gulf Cooperation Council (GCC) has signed a joint statement to initiate negotiations for a free trade agreement (FTA) between the GCC states and Malaysia.
Both parties emphasized that this signing marks the commencement of discussions covering a wide array of sectors of mutual interest, the Saudi Press Agency (SPA) reported. The potential agreement aims to enhance the GCC’s and Malaysia’s positions as significant trade and investment partners and is expected to address various economic aspects.
Jasem Mohamed AlBudaiwi, Secretary-General of the Gulf Cooperation Council, stated that the signing of the joint statement and the launch of free trade negotiations with Malaysia align with the directives of GCC leaders to strengthen relations with international partners. He noted that initiating these FTA negotiations with Malaysia represents both a strategic step and a reinforcement of the partnership between the two parties.
AlBudaiwi highlighted that the strong historical ties and increasing cooperation between Malaysia and the GCC countries, fueled by a mutual desire to advance common interests, have played a crucial role in creating a conducive environment for these ambitious negotiations.
