Arab News
Arab news, Thu, Jul 03, 2025 | Muharram 8, 1447
Saudi delegation in Tokyo for talks on GCC-Japan free trade agreement
Saudi Arabia:
Farid bin Saeed Al-Asali, the General Authority
for Foreign Trade’s deputy governor for international agreements and
organizations, is in Tokyo to lead the Kingdom’s delegation in the second round
of negotiations on the free trade agreement between the GCC and Japan, which
began on June 30 and will run until July 4.
According to GAFT, the Saudi negotiating team
includes nine technical teams focused on goods, services, investment,
e-commerce, intellectual property, and government procurement.
Comprising 46 government agencies, the teams
prepare the Kingdom’s positions on negotiations and proposals within the World
Trade Organization and free trade agreements, and submit relevant reports to the
negotiating team.
In 2024, the trade volume between Saudi Arabia and
Japan reached about $36 billion. The most significant exports from the Kingdom
were mineral products and organic chemical products. In contrast, the primary
imports from Japan included automobiles and automotive components, as well as
machinery and mechanical tools.
Overall, Saudi Arabia’s exports totaled about $28
billion, while imports amounted to around $8 billion.
The Saudi team oversees and monitors the progress
of trade negotiations to ensure they align with the Kingdom’s trade objectives
and policies. Additionally, the team participates in the negotiations to
incorporate the Kingdom’s positions, making their role integral to the process.
The General Authority for Foreign Trade aims to
enhance trade gains, strengthen global presence, and engage with international
organizations for sustainable development. The authority plays a crucial role in
negotiations, representing the Kingdom’s interests and ensuring trade agreements
align with its objectives.