Gcc Free Trade Agreement

Chapter 3 on Trade in Services closely follows the approach of the WTO`s General Agreement on Trade in Services (GATS). It covers the four service providers within the meaning of the GATS and is aimed at all service sectors. The chapter deals with general disciplines, while the annexes contain more specific provisions for certain sectors or aspects (for example. B on mutual recognition, people transport, financial services and telecommunications). There is also a record of communication relating to the services that are an integral part of the agreement. The agreement also provides tariff concessions for processed agricultural products. Commodities are covered by bilateral agricultural agreements, which are part of the free trade area instruments between the contracting parties. In the area of intellectual property, the contracting parties essentially confirm the WTO TRIPS agreement. They agree to conclude negotiations on an annex on the type of intellectual property no later than two years after the agreement enters into force. In the meantime, a specific consultation mechanism is provided in the event of intellectual property issues affecting the terms of the exchanges between the parties. The chapter on trade in goods also contains provisions relating to trade assistance, such as anti-dumping measures and safeguards. As soon as the agreement enters into force, industrial products, including fish and other seafood, will have duty-free access to the respective markets of efTA states.

For products imported into the GCC, most tariffs will be eliminated. Some products are duty-free after a five-year transitional period, while others are excluded or excluded from the scope. The most frequently asked questions about new free trade agreements with the GCC. The scope of the free trade agreement covers trade in goods (industrial and processed products, fish and other seafood), trade in services, public procurement and competition. With regard to investments and intellectual property rights, the parties agreed to negotiate these issues after the agreement came into force. Commodities are covered by bilateral agricultural agreements, which are part of the free trade area instruments between the contracting parties. The free trade agreement between the Gulf Cooperation Council for the Gulf Arab States (GCC) and the EFTA states was signed in Hamar, Norway, on 22 June 2009. The agreement includes a total of 93 articles and 16 annexes and includes a wide range of areas, including trade in goods, trade in services, public procurement, intellectual property rights, administration, dispute resolution and competition. The AELE-CCG Joint Committee established by the agreement will oversee the implementation of the agreement, which also provides for the resolution of disputes through arbitration. In addition, bilateral agricultural products agreements between three EFTA states and the GCC are part of the instruments for establishing the free trade area between the two parties. For EFTA-GCC trade statistics, see EFTA`s trade statistics tool Gulf states remove almost all tariffs on most industrial products when the agreement enters into force.

There is a list of exclusions for certain categories of goods for which tariffs are not reduced or are not reduced for five years after the agreement comes into force.

This article was written by: SignEx