Pakistan, Saudi Arabia push for early signing of GCC free trade agreement

Pakistan and Saudi Arabia have called for the proposed Pakistan-GCC free trade pact to be signed and put into effect soon, Profit by Pakistan Today reported. The issue came up in Islamabad talks between Commerce Minister Jam Kamal Khan and Saudi Arabia’s new ambassador, Dr Rajeh Albugamy, with both sides discussing broader trade access and export opportunities.

Negotiations with the GCC concluded in September 2023, but the agreement remains unsigned. Deputy Prime Minister Ishaq Dar said in October that it was close to completion, with one member state’s approval possibly outstanding. The minister pointed to Saudi Arabia’s Vision 2030 and Pakistan’s industrial capacity as areas for closer economic cooperation, while the ambassador also identified agriculture and regional links as opportunities. Both sides agreed to maintain coordination on trade, investment and agriculture.