ASEAN secretary general sees likelihood of FTA with GCC

GCC comprises Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates.

“There is a request from the GCC to have an FTA with us. I think they are confident in wanting to cooperate with ASEAN, and this is a positive development,” ASEAN secretary general Kao Kim Hourn was quoted by Indonesian media reports as saying.

Both sides have agreed on a framework document that laid out the ways through which they could bolster their future cooperation. They want to conduct further consultation on developing a framework arrangement on economic cooperation, the document said.

Hourn, however, did not mention the timing of the planned negotiations.

ASEAN and GCC held their first summit in Riyadh last year and some ASEAN leaders also discussed the possibility of promoting a trade framework between the two blocs.

Fibre2Fashion News Desk (DS)