India, GCC discuss cooperation, regional and global developments
Riyadh, Aug 24 (IANS) India and the Gulf Cooperation Council (GCC) held discussions on cooperation between the two sides, including Free Trade Agreement (FTA) negotiations.
The discussions took place during a meeting between India’s Ambassador to Saudi Arabia, Vipul, and GCC Secretary-General Jasem Mohamed Albudaiwi. The two sides also discussed regional and global developments of mutual interest.
“Ambassador Shri Vipul met H.E. Mr Jasem Mohamed Albudaiwi, Secretary-General of the Gulf Cooperation Council (GCC), today. Both discussed India-GCC cooperation, including FTA negotiations and strengthening high-level engagements. They also exchanged views on regional and global developments of mutual interest,” the Indian Embassy in Saudi Arabia posted on X.
In February, India and the GCC signed the Terms of Reference to guide the negotiations for the India-GCC FTA.
The Terms of Reference (ToR), which will define the scope and modalities of the talks, were signed between Additional Secretary and Chief Negotiator, Department of Commerce, Ajay Bhadoo, and the GCC Secretariat General’s Chief Negotiator, Raja Al Marzouqi, in the presence of Commerce and Industry Minister Piyush Goyal in New Delhi.
In September last year, India and the GCC discussed deepening cooperation across various pillars of the India-GCC Joint Action Plan (JAP) 2024-2028 – including political dialogue, security, trade and investment, agriculture and food security, transportation, energy, health, culture and education – during the two-day India-GCC Political Dialogue in Saudi Arabia’s Riyadh.
During the meeting, the two sides also discussed regional and international issues of mutual interest.
The GCC was established by an agreement in Riyadh in 1981 among Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and UAE in view of their special relations, geographic proximity, similar political systems based on Islamic beliefs, joint destiny and common objectives.
India and GCC countries share historically close and friendly ties, underpinned by vibrant trade linkages and strong people-to-people ties, according to the Ministry of External Affairs (MEA) statement. Ties between India and GCC countries have deepened in recent years in various sectors, including trade, investment, energy, health, technology and cultural exchanges. Nearly 10 million members of the Indian diaspora reside in the GCC region. Trade and Investment between India and the GCC continues to increase, with total trade of around USD 178 billion in FY 2024-25.
–IANS
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