JAKARTA: The Gulf Cooperation Council and Indonesia are aiming to finalize their free trade agreement in 2026, trade officials said on Saturday as they wrap up the fourth round of negotiations.
Indonesia has been working to enhance trade ties with GCC members, and already has a Comprehensive Economic Partnership Agreement with the UAE, its first with a Gulf nation.
Jakarta and the GCC formally launched negotiations for a free trade agreement in July 2024, and have so far held four rounds of negotiations, the latest of which concluded on Friday in Riyadh.
“Entering the fourth round of negotiations, Indonesia and the GCC have an increasingly solid foundation for negotiations,” Djatmiko Bris Witjaksono, director-general of international trade negotiations at the Indonesian Ministry of Trade, said in a statement issued on Saturday.
“We are optimistic that the dynamics of constructive discussions and mutually beneficial solutions can be further accelerated so we can reach a substantive conclusion of the Indonesia-GCC FTA by 2026.”
