Gcc Trade Agreements

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Published on: April 9, 2021

The chapter on trade in goods also contains provisions relating to trade assistance, such as anti-dumping measures and safeguards. GCC countries are also motivated to reduce their dependence on trade in oil and diversify their economies into the high-tech and services sectors. The New Zealand government, service sector companies and service providers have great potential to work with GCC countries to achieve this goal. The Eu-Gulf Cooperation Council and the Gulf Cooperation Council began negotiations in 1990 for a free trade agreement. The free trade agreement provides for a gradual and reciprocal liberalisation of trade in goods and services. The negotiations faced several challenges and were virtually halted in 2008, when the GCC countries ended all ongoing negotiations in which they participated. The most frequently asked questions about new free trade agreements with the GCC. The agreement also provides tariff concessions for processed agricultural products. Commodities are covered by bilateral agricultural agreements, which are part of the free trade area instruments between the contracting parties. The free trade agreements between the GCC and the free trade agreement contain a chapter on public procurement, which contains specific rules and principles that take into account and allow golf companies to participate in public tenders in EFTA states and vice versa.

The aim of the chapter is to ensure and grant transparency and market access on the basis of the principle of non-discrimination such as questioning. The public procurement chapter discusses the procedures to be followed by a public body that procures construction goods, services and services above certain thresholds. In the area of intellectual property, the contracting parties essentially confirm the WTO TRIPS agreement. They agree to conclude negotiations on an annex on the type of intellectual property no later than two years after the agreement enters into force. In the meantime, a specific consultation mechanism is provided in the event of intellectual property issues affecting the terms of the exchanges between the parties. Cooperation between the EU and the GCC is ongoing on trade and investment, macroeconomic issues, climate change, energy and the environment and research. Chapter 3 on Trade in Services closely follows the approach of the WTO`s General Agreement on Trade in Services (GATS). It covers the four service providers within the meaning of the GATS and is aimed at all service sectors. The chapter deals with general disciplines, while the annexes contain more specific provisions for certain sectors or aspects (for example. B on mutual recognition, people transport, financial services and telecommunications). There is also a record of communication relating to the services that are an integral part of the agreement.

The parties recognize that anti-competitive business practices may restrict trade between them. As a result, each party undertakes to enact or maintain competition laws in order to avoid such practices. The parties also agree to cooperate on the application of competition law. A consultation mechanism will also be put in place. The free trade agreement between the Gulf Cooperation Council for the Gulf Arab States (GCC) and the EFTA states was signed in Hamar, Norway, on 22 June 2009. The agreement includes a total of 93 articles and 16 annexes and includes a wide range of areas, including trade in goods, trade in services, public procurement, intellectual property rights, administration, dispute resolution and competition. The AELE-CCG Joint Committee established by the agreement will oversee the implementation of the agreement, which also provides for the resolution of disputes through arbitration. In addition, bilateral agricultural products agreements between three EFTA states and the GCC are part of the instruments for establishing the free trade area between the two parties.

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