Saudi Arabia looks for free trade agreement with 11 countries
RIYADH: Saudi Arabia is looking for more trading partners under the free trade agreements, as the country aims at increasing non-oil exports share in GDP, Arab News reported.
The kingdom is resuming negotiations for the free trade agreements with 11 countries, Okaz paper reported, citing a circular by the Federal of Saudi Chambers (FSC) to all chambers of commerce operating in the kingdom, based on the directives of the General Authority for Foreign Trade.
The target countries are China, India, Pakistan, Australia, New Zealand, Britain, Indonesia, the Philippines, Bangladesh, Sri Lanka, and the United States of America.
The kingdom aims at exporting 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 Saudi Exports Development Authority (SEDA) announced on Wednesday, it will identify over 120 international tendering opportunities in a number of target countries, mainly covering construction and industrial supplies and infrastructure projects.
A request to comment about the circular was sent to the Federal of Saudi Chambers (FSC), but they did not respond.
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