By TIOL News Service

NEW DELHI, DEC 21, 2014: INDIA is negotiating a Free Trade Agreement with Gulf Cooperation Council (GCC).

Gulf Cooperation Council (GCC) consists of six (06) countries - Kuwait, UAE, Saudi Arabia, Oman, Bahrain & Qatar. So far two rounds of negotiations have been held. The first round was held in Riyadh, Saudi Arabia on 21st - 22nd March, 2006 and the second was held in Riyadh, Saudi Arabia on 9th – 10th September, 2008. The third round of negotiations was to be held in India during 2009, as per the decision taken during the 2nd round of negotiations. However, GCC Secretariat informed that the negotiations with all countries and economic groups, have been deferred until GCC States completely reviews the issue of negotiations. It was further informed that the Secretariat General would inform India, the appropriate date to resume negotiations, as soon as GCC countries decide in the matter.

During the course of negotiations, the views of concerned Departments are obtained in taking a decision regarding tariff concessions, if any, to be granted.

This information was given by the Minister of State (Independent Charge) in the Ministry of Commerce & Industry Smt. Nirmala Sitharaman in a written reply in Lok Sabha today.