India-Gulf Cooperation Council (GCC)
Free Trade
Agreement (FTA) Negotiations
A Framework Agreement on Economic Cooperation between Republic of India and
Gulf Cooperation Council was signed on 25th August, 2004. In this Agreement, it
was provided that both the parties shall consider ways and means for extending
and liberalizing the trade relations and also initiating discussions on the
feasibility of FTA between them.
First round of Negotiations was held in the Headquarters of GCC, Riyadh on
21st – 22nd March, 2006. During this round, GCC side agreed to include services
as well as investment and general economic cooperation along with goods in the
GCC-India FTA. Another hallmark of this round is Agreement on the modalities for
negotiations have been finalized. It was also agreed to conclude the
negotiations at the earliest.
Second round of Negotiations was held in Riyadh on 9-10 September, 2008.
During this round the discussion progressed in the earlier decided Working
Groups. Proposed Tariff Liberalization Scheduled was discussed during this
round.
It was further decided that the third round of negotiations would be held in
Delhi .
Industry consultations were held to ascertain industry views on the matter.
The dates for third round is being finalized in consultations with Gulf
Cooperation Council