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China, GCC conclude third round FTA negotiation

People’s Daily, Beijing, 23 January 2006

China, GCC conclude third round FTA negotiation

The third round of free trade area negotiation between China and GCC (Gulf Cooperation Council) was concluded recently in Beijing.

Both sides conducted in-depth consultation on issues such as market access and rules of Origin, and made positive progress on issues such as customs checking procedures.

The Gulf Cooperation Council is a regional economic organization in the Gulf region, which is formed by six member states - Saudi Arabia, the United Arab Emirates, Kuwait, Oman, Qatar and Bahrain.

In the year 2005 bilateral trade between the two sides reached $33.8 billion, 36 percent more than that in the previous year.

 source: People’s Daily