RIYADH: Pakistan’s Minister of Commerce and Industries, Dr. Gohar Ejaz, called on the Cooperation Council (GCC) Chief Negotiator and discussed the investment-related segment of the GCC Free Trade Agreement (FTA).
Gohar Ejaz is heading an official delegation to Saudi Arabia that includes representatives from the Ministry of Commerce, the Board of Investment (BOI), and officials from the Attorney General’s Office, said a press release from the ministry on Saturday.
During the meetings, Minister Ejaz engaged with the GCC’s Chief Negotiator to reach a consensus on the investment chapter, focusing on aspects such as investment protection and facilitation.
Progress of Pakistan-GCC Free Trade Agreement
The technical teams from both sides extensively deliberated on the remaining details, evaluating the potential impact of the FTA on bilateral trade and investment flows.
Minister Ejaz expressed optimism about the progress, stating, “This is a significant stride in our endeavors to fortify economic ties between Pakistan and the GCC. We are confident about reaching an agreement on the investment chapter soon.”
Anticipated to enhance trade and investment between Pakistan and the GCC, the FTA is expected to stimulate economic growth, create job opportunities, and open avenues for businesses in both regions.
Moreover, discussions revolved around the prospect of organizing a joint business forum in the near future to further promote trade and investment between Pakistan and the GCC. Minister Ejaz extended gratitude to the GCC for their warm hospitality during the visit.
