China’s Foreign Minister has recently urged the GCC region to conclude talks on a free trade deal with China, noting that negotiations on the China-GCC Free Trade Agreement have lasted for more than 20 years, and conditions in all aspects are basically mature.

“It is time to make a final decision,” he said during a meeting with GCC Secretary-General Jasem Mohamed Albudaiwi in Riyadh on Sunday. Minister Wang Yi is on a three-nation tour in the Middle East that began in the UAE and is expected to end in Jordan.

GCC-China free trade deal to send a strong signal in upholding multilateralism

“Currently, protectionism is on the rise, unilateralism is rampant and free trade is under attack. Under these circumstances, the conclusion of the China-GCC Free Trade Agreement will send a strong signal to the world in upholding multilateralism,” he added.

For his part, Albudaiwi stated that the GCC countries share a profound friendship with China, and China has always been a credible and reliable strategic partner, with GCC relations maintaining a high level of operation.

He noted that the successful inaugural China-GCC Summit held in Saudi Arabia in 2022 by President Xi Jinping and leaders of the GCC countries was a major milestone. The GCC is willing to work hand in hand with China to actively implement the important consensus reached by the leaders of both sides, consolidate political mutual trust, strengthen exchanges and dialogue, deepen cooperation in energy, innovation and other fields within the framework of the Belt and Road Initiative, and enhance people-to-people exchanges to achieve mutual benefit and win-win results.

On the free trade deal with China, Albudaiwi noted that the GCC hopes to reach a China-GCC Free Trade Agreement “as soon as possible” and looks forward to the second China-Arab States Summit and the China-GCC Summit to be held in China next year, and is willing to strengthen communication with China to promote more achievements at the summits.

During his Middle East tour, China’s Foreign Minister met with Saudi Crown Prince Mohammed bin Salman, who affirmed Saudi Arabia’s commitment to working with China to elevate bilateral relations to a higher level.

“China is Saudi Arabia’s largest trading partner, with two-way investment increasing year by year. Saudi Arabia is willing to further deepen cooperation with China in areas such as oil and gas, new energy, artificial intelligence and high technology, bringing more benefits to the people of both countries,” the Crown Prince said.

Source: Economymiddleeast