Saudi Arabia Leads GCC-Indonesia Free Trade Negotiations in Jakarta

KSA, 10 September, 2024 : The General Authority for Foreign Trade (GAFT) of Saudi Arabia, led by Deputy Governor Farid Al-Asali, has headed the Saudi team in the inaugural round of negotiations for a Free Trade Agreement (FTA) between the GCC and Indonesia, held in Jakarta.

The Saudi team, consisting of 46 government agencies organized into nine technical groups, is tasked with overseeing the negotiations to align with Saudi trade objectives and policies. These groups cover various areas including goods, services, investment, and intellectual property.

In 2023, trade between Saudi Arabia and Indonesia reached approximately $7 billion. Saudi exports to Indonesia primarily included mineral products and organic chemicals, while imports from Indonesia featured cars, parts, and animal or vegetable oils.

GAFT aims to boost Saudi Arabia’s international trade presence and enhance its role in global trade organizations, focusing on sustainable development and mutual economic goals.

Source : www.saudigazette.com.sa