S Arabia mulls FTAs with India, Bangladesh, Sri Lanka, 8 other nations
Posted on August 25th, 2021

Fibre2Fashion News Desk

Saudi Arabia is looking forward to more trading partners as it aims at increasing non-oil exports share in its gross domestic product (GDP). The kingdom is reportedly resuming free trade agreement (FTA) negotiations with 11 countries: India, Sri Lanka, Bangladesh, Pakistan, Australia, New Zealand, China, the United Kingdom, Indonesia, the Philippines and the United States.

Based on a direction of the General Authority for Foreign Trade (GAFT), the Federation of Saudi Chambers (FSC) issued a circular regarding this to all domestic chambers of commerce, media outlets in the Gulf reported.

The country wants to export services, including transport, distribution, professional and financial services, communication services, postal services as well as express mail, media, hotel, construction and contracting, education and training, travel and tourism, environmental and entertainment.

The country will identify over 120 international tendering opportunities in a number of target countries, the Saudi Exports Development Authority (SEDA) announced recently.

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