Japan, Middle Eastern states seek to end FTA talks by early 2008
Kyodo News | Tuesday April 24, 2007
Japan, Middle Eastern states seek to end FTA talks by early 2008
(Kyodo) — Japan and a group of six Middle Eastern oil producers, including Saudi Arabia and the United Arab Emirates, will aim at concluding their negotiations on a free trade agreement by early 2008, Japanese officials said Tuesday.
Japanese Economy, Trade and Industry Minister Akira Amari and UAE Minister of Economy Lubna al-Qasimi agreed on the deadline at their meeting Tuesday in Tokyo, the officials said.
Japan and the group known as the Gulf Cooperation Council began FTA talks last September but they had not specified the target date for concluding the negotiations.
The GCC groups Bahrain, Kuwait, Oman and Qatar in addition to Saudi Arabia and the UAE.
Japan depends on the GCC countries for about 75 percent of its crude oil imports. Under the envisaged FTA, Japan hopes to secure a stable oil supply from them.
