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GCC + South Korea ink trade agreement: Secretary General of the Gulf Cooperation Council (GCC) Jasem Mohamed Albudaiwi and South Korean Trade Minister Ahn Dukgeung have signed a trade agreement aimed at boosting trade exchange and economic diversification between South Korea and GCC countries, according to a statement. The 18-chapter agreement covers government procurement, digital trade, cooperation in small and medium-sized enterprises, and customs procedures.
REMEMBER- The GCC also inked a trade agreement with Pakistan back in September.
UAE + Congo wrap up CEPA negotiations: The UAE’s Foreign Trade Minister Thani bin Ahmed Al Zeyoudi and Congo’s Economy and Finance Minister Jean-Baptiste Ondaye have concluded negotiations on a CEPA agreement between the two countries, Emirati News Agency Wam reports. The CEPA is set to lower or remove tariffs, eliminate barriers to trade, enhance market access and customs procedures, as well as boost investment and private sector ties in strategic sectors.
Saudi Arabia + Tunisia eye stronger trade ties: Saudi Arabia’s Industry and Mineral Resource Minister Bandar Ibrahim Alkhorayef met with Tunisian President Kais Saied to discuss enhancing trade cooperation, SPA reports. The pair touched on increasing Saudi non-oil exports to Tunisia as well as boosting investment cooperation with the private sector. Officials from the two countries also inked seven MoUs to strengthen cooperation between the two countries in several fields at the countries’ joint committee meeting.
Iraq’s prime minister invites Spanish companies to bid for Iraqi logistics infrastructure projects: Iraqi Prime Minister Mohammed Shia Al Sudani has invited Spanish companies to partake in projects slated to develop Iraq’s logistics and transport infrastructure in a meeting with Spain’s Prime Minister Pedro Sánchez and Spanish business leaders, according to a statement. Projects that were highlighted for contributions from Spanish firms include the Development Road, the Baghdad Metro, upgrades to Baghdad International Airport, and various railway initiatives. Al Sudani also encouraged Spanish firms to set up shop in Iraq’s trade zones.
ALSO WORTH KNOWING-
- The Riyadh Chamber, the Saudi Culture Ministry, and the Japan External Trade Organization inked an agreement to streamline cooperation in trade and investment. (Asharq Al-Awsat)
