Tokyo: Japan and the Gulf Cooperation Council (GCC) concluded the second round of negotiations for their free trade agreement (FTA) in Tokyo on Thursday, Japan’s Foreign Ministry stated. The discussions, which spanned four days, involved Japan’s chief negotiator Katsuhiko Takahashi, Ambassador for International Economic Affairs, and representatives from relevant ministries, alongside GCC chief negotiator Raja Al-Marzoqi and representatives from the GCC member states.
According to Kuwait News Agency, the GCC comprises six members: Kuwait, Saudi Arabia, the UAE, Qatar, Oman, and Bahrain. Since Monday, the two parties engaged in active discussions concerning the modalities of negotiations, covering General Provisions, Trade in Goods, Rules of Origin, Trade in Services, Customs Procedures and Trade Facilitation, investment, Intellectual Property, and other areas. Both Japan and the GCC agreed to arrange the dates for the third round of negotiations through diplomatic channels.
The FTA negotiations between Japan and the GCC were initially launched in 2006, but talks were suspended in 2009. The negotiations resumed last December. Japan sources over 90 percent of its crude oil supply from GCC members, highlighting the significance of these discussions.