FIRST ROUND OF GULF COOPERATION COUNCIL-SINGAPORE FTA NEGOTIATIONS
The Cooperation Council for the Arab States of the Gulf (GCC) and the Republic of Singapore completed the first round of negotiations on the Gulf Cooperation Council-Singapore Free Trade Agreement (GSFTA) from 17 to 18 January 2007 in Riyadh, Saudi Arabia.
Parties had fruitful discussions and made good progress in key areas such as trade in goods, trade in services, and investment.
The GCCSFTA will be a milestone in the ties between the GCC countries[1]and Singapore. As a key institutional framework that will strategically link the Gulf region and Singapore, the FTA will help to promote and facilitate the greater flow of goods, services and investment between the GCC and Singapore.
Both sides expect to hold the next round of negotiations in Singapore not later than May 2007 and to endeavor to conclude the negotiations expeditiously.
MINISTRY OF TRADE AND INDUSTRY, SINGAPORE
SECRETARIAT GENERAL, THE COOPERATION COUNCIL FOR THE ARAB STATES OF THE GULF
18 January 2007
[1] The GCC countries comprise Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates.