India likely to start free trade pact negotiations with GCC next month ...Middle East

Business Standard - Economy
source : Business Standard ( Middle East ) () 33
India and the Gulf Cooperation Council (GCC) member countries are expected to start negotiations for a free trade agreement next month with an aim to boost economic ties between the two regions, an official said. GCC is a union of six countries in the Gulf region -- Saudi Arabia, UAE, Qatar, Kuwait, Oman and Bahrain. "Terms of reference for the agreement are being finalised and we expect to launch the negotiations next month," the official said. India has already implemented a free trade pact with the UAE in May this year. According to experts, the GCC region holds huge trade potential and a trade agreement would help in further boosting India's exports to that market. Rakesh Mohan Joshi, Di

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