Arab News Japan

TOKYO: The Head of the Saudi Negotiating Team for the Free Trade Agreement between the Gulf Cooperation Council (GCC) and Japan says relations between the two sides have a “significant strategic dimension.”

Farid bin Saeed Al-Asali, the Deputy Governor of the General Authority for Foreign Trade (GAFT) for International Agreements and Organizations, who is leading the negotiations for the GCC, told Arab News Japan, “The relations between the Gulf Cooperation Council and Japan have a significant strategic dimension spanning decades. The current negotiations we have are built on this reality, which signifies its strategic depth.”

The current negotiations, he says, are a follow up to the Kingdom’s Vision 2030, which supports strengthening ties between the two sides.

He added that the second round of negotiations built on the first round in Riyadh last December. “Overall, we have reached a good direction for the time being, and we will build on it in the third round, which is likely to be held in Riyadh, hopefully during the second half of 2025.”

The sectors discussed in this latest round included goods, services, investment, rules of origin, general provisions and regulations, and dispute settlement.

Trade between the GCC and Japan has reached $84 billion, which, Al-Farsi says, “demonstrates the depth of our economic relations.”

The Saudi negotiating team is working to supervise and monitor the progress of the trade negotiations to ensure their alignment with the Kingdom’s trade objectives and policies. The Saudi negotiating team consists of nine technical teams, representing 46 government agencies.