Page 2 - Gulf Cooperation Council
India, GCC group to launch free trade pact negotiations on Nov 24
India and the Gulf Cooperation Council (GCC) are expected to launch negotiations for a free trade agreement on November 24 with an aim to boost economic ties between the two regions, an official said. GCC is a union of six countries in the Gulf region -- Saudi Arabia, UAE, Qatar, Kuwait, Oman and Bahrain. "The FTA will be launched on November 24. GCC officials will be here to launch the talks," the official said. India has already implemented a free trade pact with the UAE in May this year. Commerce and industry minister Piyush Goyal had, on November 16, said that India will be launching a new free trade agreement (FTA) next week. This would be a kind of resumption of FTA talks as earlier two rounds of negotiations held in 2006 and 2008 between India and GCC. Third round did not happen as GCC deferred its negotiations with all countries and economic groups. India imports predominately crude oil and natural gas from the Gulf nations like Saudi Arabia and Qatar, and exports pearls,
 "India, GCC group to launch free trade pact negotiations on Nov 24")
India likely to start free trade pact negotiations with GCC next month
India and the Gulf Cooperation Council (GCC) member countries are expected to start negotiations for a free trade agreement next month with an aim to boost economic ties between the two regions, an official said. GCC is a union of six countries in the Gulf region -- Saudi Arabia, UAE, Qatar, Kuwait, Oman and Bahrain. "Terms of reference for the agreement are being finalised and we expect to launch the negotiations next month," the official said. India has already implemented a free trade pact with the UAE in May this year. According to experts, the GCC region holds huge trade potential and a trade agreement would help in further boosting India's exports to that market. Rakesh Mohan Joshi, Director, Indian Institute of Plantation Management, Bangalore, said the GCC market is unexploited by domestic exporters and it holds huge potential. "GCC is a major import dependent region. We can increase our exports of food items, clothing and several other goods. Duty concessions under a tra
 "India likely to start free trade pact negotiations with GCC next month")
G20 trade ministerial: WTO reforms, supply chains may dominate agenda
Minister Goyal is expected to hold bilateral meetings with counterparts from member countries
 "G20 trade ministerial: WTO reforms, supply chains may dominate agenda")
India signs MoU with Gulf Cooperation Council to facilitate consultation
EAM S Jaishankar signed a MoU with the Secretary-General of Gulf Cooperation Council (GCC) Nayef Falah Mubarak Al-Hajraf on the mechanism of consultations between India and the GCC
 "India signs MoU with Gulf Cooperation Council to facilitate consultation")
Ashok Leyland bags order for supplying 1,400 school buses in UAE
Indian company says deal win by distribution partners 'reaffirms faith' in its buses
 "Ashok Leyland bags order for supplying 1,400 school buses in UAE")
Time is ripe for India to explore trade deal with AfCFTA: Commerce Secy
AfCFTA brings together the 55 countries of the African Union and eight regional economic communities to create a single market for the continent
Leaders vow for security, stability in Middle East at Jeddah summit
Hosted by Saudi Arabia, the summit was attended by leaders of the Gulf Cooperation Council, Egypt, Iraq, Jordan and the US
 "Leaders vow for security, stability in Middle East at Jeddah summit")
India's bilateral trade with Gulf Council grows at rapid pace, data shows
Bilateral trade has increased to USD 154.73 billion in 2021-22 from USD 87.4 billion in 2020-21
 "India's bilateral trade with Gulf Council grows at rapid pace, data shows")
We may consider preferential trade pact with Oman to boost ties: Goyal
India is also under active discussions with Gulf Cooperation Council (GCC) for a comprehensive trade agreement, the Commerce and Industry Minister Piyush Goyal said
 "We may consider preferential trade pact with Oman to boost ties: Goyal")
India, Oman agree to have joint feasibility study on limited trade deal
The development is taking place at a time when India is set to begin deeper engagements with the Gulf Cooperation Council (GCC) countries towards inking a free trade agreement (FTA)
 "India, Oman agree to have joint feasibility study on limited trade deal")
Gulf states will take at least 10 years to end oil dependence: Moody's
Reliance on the energy sector will be the 'key credit constraint' for the six countries forming the Gulf Cooperation Council (GCC), the ratings agency said in a report on Monday
 "Gulf states will take at least 10 years to end oil dependence: Moody's")
It's time Gulf Arab States look away from Oil and find new revenue sources
We are approaching an energy inflection point in the global economy: plentiful oil supply, a demand plateau by 2030 and more competitive renewable-energy options
 "It's time Gulf Arab States look away from Oil and find new revenue sources")
Realty firms see jump in enquiries and purchases by Gulf-based NRIs
Covid-19-induced Job losses in West Asia, falling oil prices, and security of owning a house in one's native country are driving trend, say developers
 "Realty firms see jump in enquiries and purchases by Gulf-based NRIs")
Working with the Gulf
India must accept responsibilities for its diaspora
 "Working with the Gulf")
Novo Nordisk appoints Vikrant Shrotriya as MD, Corp V-P for India business
He returns to India after 13 years with an overall career spanning over 20 years in the healthcare industry in India and internationally
Qatar boycott: US urges Gulf states to stay united, sort differences
Qatar's neighbours announced they were severing diplomatic ties with it for supporting terrorism
 "Qatar boycott: US urges Gulf states to stay united, sort differences")
