GCC and Türkiye Launch Talks for New Free Trade Agreement
The Gulf Cooperation Council (GCC) and Türkiye are beginning talks to create a free trade agreement, aimed at strengthening their economic relationships.
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This development was marked by the signing of a preliminary agreement by GCC Secretary General Jasem Mohamed Albudaiwi and the Republic of Türkiye’s Minister of Trade, Dr. Omer Bolat, signaling the commencement of negotiations for a Free Trade Agreement (FTA).
According to Albudaiwi, this step reflects the strong and strategic alliance between the GCC countries, including the United Arab Emirates, Saudi Arabia, Qatar, Kuwait, Bahrain, and Oman, and Türkiye and demonstrates a successful model of regional and international collaboration in commerce, economy, and finance.
Albudaiwi also highlighted the importance of this cooperation, emphasizing how it serves to strengthen economic ties between Türkiye and the GCC, with both parties keen on further collaboration to broaden trade and investment.
He underscored the GCC countries’ commitment to pursuing free trade discussions with various nations as a strategy to enhance trade opportunities, foster economic cooperation, and broaden market access for their products and services. This effort aligns with the GCC’s goals to diversify income sources and promote economic growth.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
MoU for ongoing collaboration to develop specific sectors through joint
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The Qatar Financial Centre Authority (QFCA), the legal and tax arm of the Qatar Financial Centre (QFC), and the Canada Arab Business Council (CABC), a not-for-profit association dedicated to promoting trade and investment between Canada and the Arab world, have signed a Memorandum of Understanding (MoU). This agreement aims to establish a framework for ongoing collaboration to develop specific sectors through joint initiatives, knowledge sharing, and strategic support.
Under the MoU, QFC and CABC will collaborate on initiatives to foster innovation and growth within QFC’s targeted sectors, such as financial services and professional business services. They will also work to facilitate business opportunities between Qatar and Canada.
Additionally, the two parties will exchange insights on innovation trends, product developments, and regulatory updates in their respective jurisdictions, fostering mutual learning and growth. They will actively promote each other’s programs and activities at their respective events and platforms, enhancing visibility and highlighting investment opportunities in the Qatari and Canadian markets.
Commenting on the partnership, Yousuf Mohamed Al-Jaida, Chief Executive Officer, QFC, said: “We are excited about this collaboration, which aligns with our mission to facilitate economic cooperation with key markets across the globe and commitment to fostering growth within QFC’s priority sectors. By joining forces with CABC, we aim to expand our outreach and create valuable opportunities for businesses in Qatar.”
Commenting on the partnership, Dr. Mohamad Sawwaf, Chair of the Canada Arab Business Council, shared his perspective: “This strategic alliance between the Canada Arab Business Council and the Qatar Financial Centre marks a significant milestone in fostering economic collaboration and innovation between Canada and Qatar. By leveraging our combined strengths, we are poised to drive sectoral development, enhance knowledge sharing, and create valuable business opportunities that will benefit both regions. We are enthusiastic about the potential this partnership holds and are committed to supporting the growth and success of our member organizations through this collaboration.”
This strategic alliance establishes a foundation for leveraging the strengths of QFC and CABC to advance their shared interests in promoting innovation, supporting business growth, and strengthening economic ties between Qatar and Canada.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
