The Persian Gulf Cooperation Council (GCC) has reported that it has signed a free trade agreement with Indonesia.

According to Amac News: GCC said that this agreement was signed between Jasem Mohamed Albudaiwi, Secretary General of the Persian Gulf Cooperation Council and Zulkifli Hassan, Minister of Trade of Indonesia.
The GCC stated that this agreement is the official start of negotiations to establish a comprehensive trade agreement to promote trade and investment between GCC member states and Indonesia.
The proposed FTA is expected to create a framework to increase cooperation, simplify regulations governing investments and create new job opportunities.
The Secretary General of the Persian Gulf Cooperation Council emphasized that the initiative to start free trade negotiations with Indonesia is in line with the strategic goals of the Persian Gulf Cooperation Council to expand relations with key international partners.
The FTA is expected to serve as an important platform for advancing the GCC's economic diversification strategies and achieving their broader economic vision.
The initial round of negotiations is scheduled to begin in 2024, and the completion date is set in the next 24 months. The agreement is expected to pave the way for increased economic cooperation and mutual growth between the GCC and Indonesia.