Pakistan, Saudi Arabia advance FTA investment talks

MG News | December 02, 2023 at 07:47 PM GMT+05:00

0:00

December 02, 2023 (MLN): To finalize the investment-related segment of the GCC Free Trade Agreement (FTA), a delegation led by Dr. Gohar Ejaz, Pakistan's Minister of Commerce and Industries, visited Saudi Arabia, said a press release issued today.

The delegation comprised of Secretaries of Ministry of Commerce and Board of Investment (BOI) and officials from Attorney General's Office.

The technical teams from two sides held extensive discussions on the remaining details of the investment chapter, including investment protection and facilitation.

They also discussed the potential impact of the FTA on bilateral trade and investment flows.

“This is a major step forward in our efforts to strengthen economic ties between Pakistan and the GCC.” said Ejaz.

Investment chapter is an important part of the agreement, and we are confident that we can reach an agreement soon.

The GCC FTA is expected to boost trade and investment between Pakistan and the GCC.

The agreement is also expected to create new jobs and opportunities for businesses in both regions.

The two sides also discussed the possibility of holding a joint business forum in the near future to promote trade and investment between Pakistan and the GCC. Mr. Gohar Ejaz thanked the GCC for its warm hospitality.

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