China and the Gulf Cooperation Council (GCC) might be closer than ever to sealing a free trade agreement, after China’s top diplomat Wang Yi wrapped up a visit to the UAE, Saudi Arabia and Jordan this month. 🌍🤝
In Riyadh, Wang Yi told the GCC Secretary General that “conditions are now basically in place,” calling on both sides to take “the final decisive step.” It’s the first time a Chinese official has suggested the deal is in its final stage. 🚀
Why it matters
A free trade agreement (FTA) removes or lowers tariffs—think of these as extra fees on imports—to make cross-border trade smoother and more predictable. For GCC states, which include Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE, it means easier access to China’s massive market. For China, it secures vital energy supplies and trade routes.
20 years of negotiations
Back in 2004, China and the GCC announced an FTA framework. By 2009, they’d agreed to open up around 97% of goods. Talks went quiet until 2016, then picked up with four rounds of talks that year. The latest (11th) round happened in October in Guangzhou, with key terms agreed.
Next steps
Both sides now need to iron out the final details on services, investment rules and standards—complex stuff beyond just tariffs. If they can wrap this up, businesses on both sides will have clearer rules, cutting red tape and boosting opportunities. 💼✨
For young pros in South and Southeast Asia, an FTA between these giants means more diverse products, competitive prices and new job or startup chances in trade, logistics or digital services. Stay tuned as Asia–Middle East ties deepen! 🔥
Reference(s):
Are China, GCC closer to free trade deal after Wang Yi's visit?
cgtn.com
