July 13, 2023
2 mins read

India, GCC resume FTA talks

The conference is the flagship initiative of both sides to provide an institutional platform for robust engagement between the business communities…reports Asian Lite News

Ausaf Sayeed, Secretary (CPV&OIA), Ministry of External Affairs, has informed of the resumption of discussions on the Free Trade Agreement (FTA) between India and the Gulf Cooperation Council (GCC) at the 6th India Arab Partnership Conference.

Under the aegis of the Arab-Indian Cooperation Forum, the 6th India-Arab Partnership Conference on “New Horizons in Investment, Trade & Services” was organised on July 11, 12. Ministers, senior officials and businesspersons from the Arab States and India participated in it. “India and GCC have resumed discussions on concluding the Free Trade Agreement. We have exchanged preliminary documents, and the delegations have been meeting. We hope this will soon become a reality, bringing newer opportunities for businesses on both sides,” Sayeed said during his special address.

In addition, the secretary alluded to the discussions on exploring alternative forms of trading with GCC nations. “There are discussions with our bilateral partners, talks about Rupee trading, barter trading and many other things, especially under the circumstances where most countries are facing challenges of foreign currency,” he said.

The conference is the flagship initiative of both sides to provide an institutional platform for robust engagement between the business communities. The previous five editions of the conference have guided in laying the foundations of a roadmap and synergizing the economic cooperation between India and the League of Arab States (LAS) countries.

V Muraleedharan, Minister of State for External Affairs (MoS) inaugurated the Conference and delivered a keynote address. From the Arab side, the Conference was led by Ambassador Ali Ibrahim Al Malki, Assistant Secretary General, Head of the Economic Affairs Sector of the League of Arab States headquarters who gave a welcome address.

The conference was rich in content with the inaugural session at Ministerial-level, followed by Special Sessions in which discussions were held on investment climates and opportunities. The speakers elaborated on the present state of India-Arab cooperation in various sectors including healthcare, food and energy security and resilient supply chain and means to further enhance them, including by sharing expertise and best practices. The meeting also stressed the important role of the private sector to push trade and investment relations to wider horizons.

On the main day evening, Ausaf Sayeed, Secretary (CPV & OIA) hosted a dinner for dignitaries, speakers and participants from the Arab and Indian sides with MOS being the Chief Guest of the occasion. In the concluding session, Secretary (CPV & OIA) delivered a special address to the participants.

The conference was jointly organised by the Ministry of External Affairs, Government of India and the LAS, in partnership with the Federation of Indian Chambers of Commerce and Industry (FICCI), Federation of Arab Businessmen (FAB) and Union of Arab Chambers (UAC). In conclusion, the participants conveyed their sincere appreciation to all stakeholders for the excellent coordination in putting together a substantive programme.

​They agreed to convene the seventh edition of the IAPC in the Arab country in the year 2025. (ANI)

ALSO READ-Russia hails GCC trade ties

Previous Story

‘Third G20 FMCGB meeting to have five thematic areas’

Next Story

‘Cerberus’ heat wave sweeps across Europe

Latest from -Top News

Pak Army Chief Targets India Again

This is not the first time that Munir has indulged in loose talk, exhibiting conduct unbecoming an officer….reports Asian Lite News Pakistan’s Chief of Army Staff (COAS) General Syed Asim Munir on

Relief for Students: US Visa Cancellations Paused

More than 1,500 student visas have been cancelled so far…reports Asian Lite News The United States on Friday abruptly paused the cancellation of student visas issued to international students, according to reports.

Yunus Must Be Treated Like Hasina, Warn Islamists

Islamist group made these warnings to the interim government, terming the women’s reform body proposals as “anti-Islamic…reports Asian Lite News The radical Islamist group in Bangladesh, Hefazat-e-Islam, has issued a threat, stating

UN: Bring Pahalgam Terrorists to Justice

The members of the Security Council “stressed that those responsible for these killings should be held accountable..reports Asian Lite News The Security Council has “condemned in the strongest terms” the Pahalgam terrorist
Go toTop

Don't Miss

G20 Summit: India’s Diplomatic Pinnacle in 2023

As External Affairs Minister (EAM) S Jaishankar rightfully said, the

PMO Reviews G20 Summit Outcomes

Hailing the 18th G20 summit, Mishra emphasised that India delivered