Doha: The Gulf Cooperation Council (GCC) and New Zealand finalized a free-trade agreement, signaling the GCC’s commitment to strengthening economic ties with international partners.

According to Saudi Press Agency, GCC Secretary-General Jasem Mohamed Albudaiwi made the announcement at the conclusion of the 67th meeting of the GCC Trade Cooperation Committee in Doha. He emphasized the shared desire to deepen relations, noting that trade between the GCC countries and New Zealand reached $2.9 billion in 2023. From 2020 through 2024, the two sides collaborated on a joint action plan encompassing several key areas, including political dialogue, trade and industry, investment, economic and financial cooperation, agriculture and food security, transportation, tourism, and training and development.

The agreement, once implemented, is expected to boost trade and investment and broaden cooperation in areas of mutual interest.