Progress on Free Trade Agreement: Jasem Albudaiwi and Todd McClay praised the negotiating teams for their work on the Free Trade Agreement (FTA), which is set to enhance investment opportunities and strengthen economic ties between the GCC and New Zealand.
Negotiation Milestones: Albudaiwi highlighted significant progress in the FTA negotiations, with agreements reached on most chapters, reflecting a strong commitment to advancing economic cooperation.
Broader Discussions: The meeting also addressed ways to improve GCC-New Zealand relations across various sectors and reviewed the implementation of the previously signed memorandum of understanding and joint action plan.
Riyadh, September 8, 2024—In a notable meeting today, Jasem Albudaiwi, Secretary-General of the Gulf Cooperation Council (GCC), engaged with Todd McClay, New Zealand's Associate Minister of Foreign Affairs and Minister of Agriculture, Trade, Forestry, Hunting, and Fishing, at the GCC headquarters in Riyadh.
The two officials commended the dedicated efforts of the negotiating teams involved in the ongoing discussions regarding the Free Trade Agreement (FTA) between the GCC and New Zealand. They emphasized that the FTA represents a significant milestone, poised to unlock new investment opportunities and further enhance economic relations between the two parties. The agreement is expected to serve as a catalyst for strengthening bilateral economic ties and promoting mutual interests.
Albudaiwi highlighted the substantial progress made in the FTA negotiations, noting that most chapters of the agreement have been successfully concluded. This progress reflects the commitment of both GCC countries and New Zealand to advancing their economic partnership and fostering a more integrated trade relationship.
Additionally, the meeting provided an opportunity to review and discuss various aspects of GCC-New Zealand relations. The officials explored strategies to enhance collaboration across multiple sectors, aiming to build on the existing partnership and expand areas of cooperation. They also monitored the implementation of the memorandum of understanding and joint action plan previously signed by both sides, ensuring that agreed-upon initiatives are effectively carried out.
The discussions underscored a shared commitment to deepening bilateral ties and advancing joint initiatives, paving the way for a more robust and dynamic relationship between the GCC and New Zealand.