CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. China, GCC To Resume FTA Talks

China, GCC To Resume FTA Talks

by Lorys Charalambous, Tax-News.com, Cyprus

23 January 2014


China and the Gulf Cooperation Council (GCC) met on January 17, 2014 to draw up an action plan on cooperation from 2014 to 2017 and agreed to accelerate negotiations on a free-trade agreement (FTA).

Chinese President Xi Jinping said during a meeting with a GCC delegation at the Great Hall of the People in Beijing: "Negotiations on the China-GCC free trade agreement have been in the works for a decade. Both sides have done extensive planning for the agreement." After the meeting he issued a statement in which he said "I hope both sides can sign the agreement at an early date."

Last year the GCC, a political and economic bloc made up of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates, accounted for 70 percent of China's trade with the 22-member League of Arab States. Trade between China and the GCC surged from USD9bn in 2001 to USD151bn in 2012.

China and the GCC began talks on an FTA in 2004 but, after five rounds of negotiations and two panel meetings, the talks stalled in 2009.

Apart from the FTA, the action plan negotiated by China and the GCC outlines goals for cooperation in politics, trade, energy, environmental protection and climate, culture, education, health and sports.

TAGS: United Arab Emirates | environment | free trade agreement (FTA) | Kuwait | Saudi Arabia | energy | trade treaty | Bahrain | China | Qatar | agreements | education | Gulf Cooperation Council | trade | Oman | free trade zone

To see today's news, click here.

Leave a comment

Read our Posting Guidelines

 






Close

Password Reminder

Please enter your email address to receive a password reminder.

 






Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Tax-News+ Updates

Receive FREE daily updates from Tax-News.com, straight to your inbox. Register Now!

For a tailored solution, choose to receive selected news updates for your preferred jurisdictions and topics, with our enhanced Tax-News+ subscriber service. Read more...

 

Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »