ASEAN, GCC agree to launch free trade deal talks
KUALA LUMPUR: His Highness the Crown Prince Sheikh Sabah Khaled Al-Hamad Al-Sabah attends the ASEAN/GCC summit in Kuala Lumpur, Malaysia. - KUNA
KUALA LUMPUR: The regional bloc of Southeast Asian nations ASEAN and Gulf Cooperation Council (GCC) member states agreed on Monday, in a joint statement, to start negotiations over a free trade agreement.
The agreement was sealed on the sidelines of the ASEAN/GCC summit in Kuala Lumpur, Malaysia, in which His Highness the Amir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah is represented by His Highness the Crown Prince Sheikh Sabah Khaled Al-Hamad Al-Sabah.
The joint statement should serve as a launchpad towards talks on a free trade agreement between the two regional blocs, covering a wide array of sectors and economic aspects that would further reinforce trade ties between Kuala Lumpur and Gulf Arab states, it underlined.
These talks come as per the directives of the leaders of GCC member states, which urge Gulf Arab countries to bolster their ties with "international partners," said the Riyadh-based bloc's chief Jassem Al-Budaiwi, hailing the agreement as a major step forward in a bid to bring that goal to fruition.
Leaders from the two regional blocs are assembling for talks in the Malaysian capital to discuss current developments and push forward bilateral relations. - KUNA
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