GCC Secretary-General: Free Trade Talks with India Mark New Phase in Partnership

 Secretary-General of the Gulf Cooperation Council (GCC) Jasem Albudaiwi stressed that the launch of free trade agreement negotiations between the GCC and India, along with the signing of a joint statement, marks a new phase in the strategic partnership. He said the step will strengthen economic and commercial ties between the two sides.
 The remarks were made during the signing ceremony of the joint statement on launching the free trade agreement negotiations. The ceremony was attended by Albudaiwi and Indian Minister of Commerce and Industry Piyush Goyal in New Delhi today.
 Albudaiwi noted that the terms of reference signed on February 5, 2026, provide a clear and comprehensive framework for the negotiations. He said the agreement will cover trade in goods, customs procedures, trade in services, and digital trade. It will also address sanitary and phytosanitary standards (SPS), intellectual property rights, and cooperation on micro, small, and medium enterprises (MSMEs), in addition to other areas of mutual interest. He emphasized that the comprehensive scope aligns with the demands of the future economy.
 The GCC secretary-general expressed hope that the negotiations will lead to a comprehensive and ambitious agreement. He said the agreement aims to remove tariff and non-tariff barriers, enhance the flow of quality investments in both directions, and facilitate greater liberalization in trade and investment cooperation. He added that it seeks to create a stimulating economic and investment environment, expand opportunities for the business sector, support supply chains, and accelerate economic growth in line with the GCC states’ development visions. He affirmed the secretariat’s readiness to host the first round of negotiations at its headquarters in Riyadh during the second half of this year.
 The two sides also reviewed existing cooperation and explored ways to elevate it further, particularly in economic, investment, and trade sectors. They praised the efforts of the negotiation teams, noting their role in advancing the talks and contributing to a comprehensive agreement that enhances economic integration and facilitates trade between the GCC and India.