On September 8, 2024, Jasem Albudaiwi, GCC Secretary General, and Todd McClay, New Zealand's Associate Minister of Foreign Affairs, discussed the progress of their Free Trade Agreement (FTA) negotiations in Riyadh.
They praised the negotiating teams' efforts and noted that the FTA is set to enhance investment opportunities and strengthen economic ties, with agreements reached on most chapters.
The meeting also addressed ways to improve GCC-New Zealand relations, reviewed the implementation of existing agreements, and explored further cooperation across various sectors.
On September 8, 2024, in Riyadh, Jasem Albudaiwi, Secretary General of the Gulf Cooperation Council (GCC), hosted a pivotal meeting with Todd McClay, New Zealand's Associate Minister of Foreign Affairs and Minister of Agriculture, Trade, Forestry, Hunting, and Fishing. This high-profile encounter highlighted the ongoing collaboration between the GCC and New Zealand, focusing on the progress of their Free Trade Agreement (FTA) negotiations.
Both Albudaiwi and McClay commended the dedicated efforts of their respective negotiating teams, acknowledging the significant strides made towards finalizing the FTA. They emphasized that the agreement holds considerable promise for expanding investment opportunities and reinforcing economic ties between the GCC member states and New Zealand. Albudaiwi specifically noted that the negotiations are advancing well, with consensus reached on most of the FTA’s chapters, signaling a forthcoming enhancement in bilateral economic relations.
In addition to discussing the FTA, the meeting provided a platform for a broader dialogue on various topics of mutual interest. The officials reviewed the current state of GCC-New Zealand relations and explored strategies for further enhancing cooperation across multiple sectors. They also focused on monitoring the implementation of the memorandum of understanding and the joint action plan previously signed by the two parties, aiming to ensure that the agreed-upon initiatives are effectively carried out and deliver tangible benefits.
This meeting underscores the commitment of both the GCC and New Zealand to deepening their partnership and advancing shared economic and strategic interests, marking a significant step forward in their collaborative efforts.