India GCC Trade Organization’s Post

Pakistan and Malaysia have recently strengthened their bilateral relations through significant trade and defense agreements. Both nations have long maintained diplomatic ties, but these new agreements mark a deepening of cooperation in key areas. On the trade front, the two countries aim to boost economic collaboration, expanding the scope of their existing Free Trade Agreement (FTA). They are exploring opportunities in sectors such as information technology, agriculture, and manufacturing, while also focusing on increasing bilateral trade volumes. Malaysia's investments in Pakistan, particularly in energy and infrastructure, are expected to grow. $200m Trade is expected. #Pakistan #Malaysia #Trade #Export

Türkiye recently agreed with the Gulf Cooperation Council (GCC) to start discussing a Free Trade Agreement (FTA), aiming to boost economic relations with the oil-rich region. This agreement is anticipated to create one of the largest free trade zones globally, valued at $2.4 trillion, between Türkiye and the GCC. #TradeTalks #EconomicPartnership #GlobalCommerce #FreeTradeDeal #TürkiyeGCC #EconomicExpansion #FutureTrade https://lnkd.in/dX2gK--N

Türkiye has signed a deal with the Gulf Cooperation Council (GCC) to launch negotiations for a Free Trade Agreement (FTA), Turkish Trade Minister Omer Bolat said on Thursday, as the government steps up efforts to expand economic ties with the oil-rich region.   Türkiye launched a diplomatic charm offensive in 2020 to mend ties with Gulf countries, including the UAE and Saudi Arabia, after years of tension.   The trade pact is expected to lead to one of the world’s largest free trade areas, between Turkey and members of the GCC, with a total value of $2.4tn. The Cooperation Council for the Arab States of the Gulf (GCC) | #Türkiye | #GCC | #trade | #Investment

The longstanding relationship between the #UAE and #Japan, built on decades of strategic cooperation across various sectors, is set to strengthen further with the launch of talks towards a Comprehensive Economic Partnership Agreement (#CEPA). This new phase of collaboration will open doors to deeper cooperation, supporting the sustainable #economic growth of both nations and their people. As the UAE and Japan embark on these CEPA negotiations, the talks reflect a mutual commitment to elevate their partnership to new levels. By facilitating #investment and fostering #innovation, the agreement will contribute to the UAE’s economic diversification goals while creating more opportunities for collaboration between the #business communities of both countries. With the commencement of these negotiations, it is anticipated that the conclusion of a comprehensive and balanced Economic Partnership Agreement between Japan and the UAE will further enhance economic relations. This will be pursued in parallel with the Japan-#GCC Free Trade Agreement negotiations, providing an additional boost to economic ties across multiple sectors. The announcement of these talks also aligns with the UAE’s broader strategy to expand its trade network through the Comprehensive Economic Partnership Agreement programme. Launched in September 2021, the programme aims to achieve #sustainable economic growth by removing barriers to #trade, improving #market access, and reducing or eliminating customs duties. These CEPA discussions are built on already flourishing trade relations. The UAE is Japan's top trading partner in the #Arab world, accounting for 40% of Japan’s exports to Arab countries. Japan is also one of the UAE’s top ten global trading partners. Non-oil trade between the two nations remained robust in the first half of 2024, reaching $8.1 billion, with total trade for 2023 amounting to $17.3 billion, a 17.4% increase from 2022. The UAE’s Comprehensive Economic Partnership Agreement Programme continues to play a pivotal role in boosting non-oil foreign trade, which surged by 11.2% year-on-year in the first half of 2024, reaching AED 1.395 trillion. Since its inception, 11 agreements have been signed with key global trade partners, six of which are already in effect, underscoring the programme’s critical role in promoting sustainable growth and economic diversification for the UAE.

The #UAE’s foreign trade program is designed to build bridges of opportunity across the world. Today, the UAE and the Eurasian Economic Union (#EAEU) have successfully concluded negotiations for an Economic Partnership Agreement, an important step in the expansion of our trade network – and a reinforcement of our belief in open, rules-based trade. Our relationship with the EAEU is flourishing. In the first half of 2024, non-oil trade with the bloc reached US$13.7 billion – a 29.6% increase year-on-year. This EPA will not only boost these numbers but create new opportunities for investment, innovation and industrial collaboration. The results of our partnerships with key allies around the world are clear, with the sharp increase in trade flows supporting our status as a dynamic hub for global commerce and a gateway to high-growth markets worldwide. We have every confidence our deal with the Eurasian Economic Union will deliver even more success. #trade #tradefacilitation #Eurasia #freetrade #CEPA

Recently both UAE and New Zealand have concluded a comprehensive economic partnership agreement which aims to remove almost more than 90 percent of the tariff and quota barriers which will facilitate and enhance mutual cooperation between both the countries. Many New Zealand based financial institutions will get an opportunity to collaborate with the UAE based entities and on the contrary the dairy products of New Zealand will also get a massive boost in its exports to the UAE. UAE which is affluent in gold items and is perhaps the global logistics hub of the world will also get an opportunity to hike it's exports and also will aim to invest more in the maritime trade sector of New Zealand. Mia Mikic , Christina Stringer , Brent Burmester , Dhiraj Nim , Prof. (Dr.) Alka Maurya , Sandip Solanki, PhD , Dr. Suchita Jha , SABYASACHI HAJARA , Sanjib Gupta Roy , Punit Oza, FICS, AFNI, LLB, M.Sc. , Santosh Mathew , Deepak Mukhi , Rajiv Sathe , Graham Rouse , Irfan Jaffer , Neha Marwaha , Neera Arora , New Zealand Trade and Enterprise , New Zealand Ministry of Foreign Affairs & Trade .

Malaysia is negotiating several new free trade agreements (FTAs) to diversify trade and reduce the impact of geopolitical tensions, including the Malaysia-UAE Comprehensive Economic Partnership and the Asean-Canada FTA. It is also upgrading the Asean Trade in Goods Agreement and Asean-China FTA. Malaysia has 16 FTAs, including the CPTPP, and is pursuing a Malaysia-European Free Trade Association Economic Partnership Agreement. Despite minimal short-term impact from the Russia-Ukraine war and Middle Eastern conflicts, Malaysia is strengthening ties with major partners like Asean, the US, China, and the EU, while exploring new markets and encouraging reliance on domestic resources. . . . . . . #initiatemagazine #initiator #initiate #Malaysia #FreeTradeAgreements #FTA #TradeDiversification #Geopolitics #Asean #CPTPP #MalaysiaTrade #TradeNegotiations #EconomicPartnership #MalaysiaUAE #AseanCanadaFTA #TradeRelations #GlobalTrade #InternationalTrade #GeopoliticalTensions #EconomicGrowth #Nearshoring #TradeStrategy #InvestmentOpportunities #ASEANTrade

Colombia and the United Arab Emirates (UAE) have embarked on a significant economic venture by signing their first-ever free trade agreement, the Comprehensive Economic Partnership. This milestone follows two years of negotiations and underscores a budding relationship between the two nations. Key elements of the agreement include a focus on agricultural exports, particularly Colombian coffee and fruits, alongside other commodities like gold. The deal is expected to boost trade revenue, which already reached over $300 million USD, with significant portions of Colombian products entering the UAE tariff-free. Notably, the agreement reflects Colombia's shift away from fossil fuels, aligning with President Petro's vision to transition the country's economy. Environmental protection measures are integrated into various clauses, signaling a commitment to sustainability. The trade pact opens opportunities in sectors such as aviation, renewable energies, and artificial intelligence, fostering mutual economic growth. Despite political tensions, particularly concerning relations with Israel, President Petro's strategic move to strengthen ties with the UAE demonstrates a pragmatic approach to international diplomacy. Overall, the Colombia-UAE trade agreement marks a significant milestone in expanding economic cooperation and diversifying trade opportunities for both nations, with potential implications for regional and global trade dynamics. https://lnkd.in/g5tGJHEZ

🇸🇦🇵🇱 Bilateral cooperation: Saudi Arabia and Poland have created a new joint business council for the term 2024-2028 to boost the commerce and investment between the two countries. The Saudi Arabia General Authority for Foreign Trade (GAFT) has concluded the establishment of the Saudi-Polish Business Council and appointed Abdullah bin Mohammed Abu Dubeil as chairman. He will be accompanied by two vice chairmen, Farea Bin Hazem Zaqzouq and Musab Bin Ahmed Al-Maseed.   This strategy is part of Saudi Arabia’s plan to strengthen economic ties with Europe, particularly Poland, which is Europe’s one of the largest economies. Poland’s agri-food sector’s exports has been on rise and has recorded a € 47.9 billion ($ 51.1 billion) in 2023, an increase of € 10 billion compared to the previous year.   In 2023, the trade between Saudi Arabia and Poland reached around $ 9 billion. The major exports from Saudi Arabia to Poland are minerals products and plastics, while major exports from Poland to Saudi Arabia include tobacco, machinery and mechanical appliances.    The newly established Saudi-Polish Business Council aims to help businesses in both countries to expand trade and investment opportunities. #GAFT looks after 43 bilateral and regional councils, all of which aim to enhance international economic partnerships.   #SaudiVision2030 #Poland #SaudiBusinessCouncil #SaudiPoland #SaudiProjects #Saudi #SaudiArabia #PolishSaudi #GLTRCORE #SaudiHub

Uzbekistan and Kazakhstan have announced a goal of more than doubling trade volume in the coming years. To hit that very ambitious target, top officials from both countries intend to remove trade barriers and increase trade to $10 billion a year in the near future. The two countries accounted for 57 percent of all trade in Central Asia in 2023, with bilateral turnover amounting to $4.5 billion during the year. The pace of trade has dipped so far this year, with total volume totaling $1.2 billion during the first four months of 2024. #uzbekistan #kazakhstan #centralasia #trade #business #cooperation #economy #growth