Prime Minister Shehbaz Sharif has announced that the Pakistan-Gulf Cooperation Council (GCC) free trade agreement is now in its final stages. He shared the update during a recent meeting focused on strengthening Pakistan’s economic and diplomatic ties with Gulf nations.
PM Shehbaz noted that negotiations between Pakistan and GCC officials have progressed smoothly in recent months. He said that the agreement would create new opportunities for trade, investment, and economic cooperation. According to the prime minister, both sides are committed to completing the remaining formalities soon.
The Pakistan-GCC free trade agreement is expected to open the door for stronger regional partnerships. PM Shehbaz emphasized that the deal will help Pakistan increase exports, attract foreign investment, and create jobs. He added that it will also support Pakistan’s long-term economic stability.
Officials familiar with the talks said the agreement covers goods, services, and investment cooperation. They added that once completed, it will mark Pakistan’s first comprehensive trade deal with the GCC, which includes Saudi Arabia, the United Arab Emirates, Qatar, Bahrain, Oman, and Kuwait.
The prime minister praised the GCC for its continued support to Pakistan. He highlighted the strong historic relationship between Pakistan and Gulf states and stressed the importance of deeper economic engagement.
PM Shehbaz also instructed relevant ministries to finalize all pending matters quickly. He said Pakistan must take full advantage of the upcoming agreement by improving export quality, upgrading industry standards, and ensuring smooth customs processes.
Economists say the Pakistan-GCC free trade agreement could provide a major boost to Pakistan’s trade sector. They believe that lower tariffs and easier market access will make Pakistani products more competitive in Gulf markets.
The final signing of the agreement is expected soon, once both sides complete technical reviews and legal checks.
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