Australia-Gulf Cooperation Council Free Trade Agreement

April 8, 2021

GCC countries are also motivated to reduce their dependence on trade in oil and diversify their economies into the high-tech and services sectors. The New Zealand government, service sector companies and service providers have great potential to work with GCC countries to achieve this goal. Negotiations are progressing very slowly, as the GCC is currently negotiating agreements with other parties, including the EU. AFTINET shares concerns about these negotiations, as with others, and calls for more transparency and assessment of the social, environmental and labour law impact of an agreement. New Zealand and the GCC are a natural adjustment for trade. In 2007, Australia and the Gulf Cooperation Council (GCC) began negotiations for a free trade agreement between them. The last round took place in 2009. In 2014, the Council of Ministers of the Gulf Cooperation Council agreed on the continuation of negotiations. Australia and the Gulf Cooperation Council (GCC) member states enjoy important economic and trade relations: foreign trade in goods and services and foreign direct investment (FDI). Negotiations for a free trade agreement between Australia and the Gulf Cooperation Council began in July 2007. The GCC consists of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates and is Australia`s steepest export market.

The GCC is New Zealand`s eighth largest trading partner (the main markets being the United Arab Emirates and Saudi Arabia). In 2017, New Zealand`s exports of goods and services to the GCCs totaled $1.98 billion, and total trade in both lanes was $4.66 billion. The GCC countries are our seventh export destination. The Gulf Cooperation Council (GCC) is made up of Saudi Arabia, the United Arab Emirates, Qatar, Kuwait, Oman and Bahrain. MailCoordinator, NZGCC FTAMinister of Foreign Affairs and TradePrivate Tasche 18901Wellington We are also pleased to see information from New Zealand companies on imports from CCG countries. MFAT negotiators are very keen to hear about companies or individuals facing barriers to the GCC market. This also includes companies that are not exporting now, but are considering entering this market. Examples of common obstacles faced by New Zealand companies in the offshore sector: the GCC strategy sets out three objectives that the NZ-GCC Free Trade Agreement will achieve: status: the negotiations were concluded in October 2009.

We continue to receive positive signals about the willingness of the Gulf Cooperation Council (GCC), including Saudi Arabia, to resume the process of finalizing the NZ/CCG free trade agreement. However, some steps still need to be taken by the GCC before they can do so, and officials are continuing their discussions with GCC countries on this issue. The current regional dynamics have also had an impact on the ability of GCC countries to make a common decision. As a result, it is unlikely that the free trade agreement will be concluded until this impasse is resolved. For more information or information on the free trade agreement negotiations with the NZ-GCC, please contact us: Australia also exports cars, minerals and services (mainly education). NZ Inc. is the government`s plan to strengthen New Zealand`s economic, political and security relations with important international partners, particularly with countries and regions with which we already have relationships and where there is significant growth potential.