GAFT Heads Saudi Team At First Round Of GCC-Japan Free Trade Agreement Negotiations

The General Authority for Foreign Trade (GAFT) is steering Saudi Arabia's efforts in establishing a free trade agreement with Japan. Led by Fareed bin Saeed Al-Asali, the Deputy Governor for Agreements and International Organizations, the Saudi delegation participated in the initial negotiation round held in Riyadh from December 10 to 12. This initiative is part of broader discussions between Gulf Cooperation Council (GCC) countries and Japan.

Saudi Arabia's negotiating team plays a crucial role in aligning trade negotiations with national objectives. The team actively engages in discussions to reflect Saudi Arabia’s interests. It comprises nine specialized subcommittees focusing on various sectors such as goods, services, e-commerce, intellectual property, and investment. These subcommittees are supported by members from 46 government entities.

In 2023, trade between Saudi Arabia and Japan reached around $41 billion. Saudi Arabia exported mainly mineral and organic chemical products to Japan. In return, it imported vehicles, machinery, and spare parts from Japan. This trade relationship highlights the economic interdependence between the two nations.

GAFT plays a pivotal role in enhancing Saudi Arabia's international trade benefits. It aims to expand the Kingdom's global presence while ensuring active participation in international organizations. This involvement is crucial for achieving common objectives and promoting sustainable development.

The Saudi negotiation team is responsible for overseeing trade discussions to ensure they align with national policies. They prepare reports as needed and coordinate positions for discussions within the World Trade Organization (WTO), free trade agreements (FTAs), and related initiatives. Their work ensures that Saudi Arabia's perspectives are well-represented in these forums.

The team's structure includes nine subcommittees that focus on key areas like general texts and provisions, government procurement, rules of origin, and economic evaluation. These committees are integral to preparing Saudi Arabia’s negotiating positions and proposals.

This strategic approach underscores the importance of comprehensive preparation in international negotiations. By involving multiple government entities, Saudi Arabia ensures that its positions are well-coordinated and effectively communicated during discussions.

Saudi Arabia's participation in these negotiations reflects its commitment to strengthening economic ties with Japan and other GCC countries. The ongoing efforts aim to foster mutual benefits through enhanced trade relations.

With inputs from SPA