Tokyo: The General Authority of Foreign Trade, represented by Deputy Governor for International Organizations and Agreements and Head of the Saudi Negotiating Team Fareed Al-Asaly, is heading the Kingdom's delegation in the second round of negotiations for the Free Trade Agreement between the Gulf Cooperation Council (GCC) and Japan, held in Tokyo from June 30 to July 4.
According to Saudi Press Agency, the negotiating team is tasked with overseeing and monitoring the progress of the trade negotiations to ensure alignment with the Kingdom's trade policies and goals. It also participates directly in incorporating Saudi negotiating positions.
In 2024, the trade volume between Saudi Arabia and Japan reached some $36 billion. Saudi exports were led by mineral products and organic chemical products, while imports from Japan were dominated by vehicles and their parts, along with machinery and mechanical appliances and their parts. Saudi exports amounted to around $28 billion, while imports totaled around $8 billion.
The General Authority of Foreign Trade seeks to enhance the Kingdom's international trade gains, global presence, and active participation in various international organizations to ensure the achievement of shared goals and sustainable development.