Update 1: Preparatory Meeting 2 May 2007
The preparatory meeting on an Australia-Gulf Cooperation Council (GCC) free trade agreement (FTA) was held in Riyadh, Saudi Arabia on 2 May 2007.
The discussions, which were conducted in a positive atmosphere, covered the overall approach to, and timeframes for, the negotiations. The talks also covered approaches to the negotiations for goods, services and investment, and institutional and legal issues. Other issues including intellectual property and government procurement were also covered.
Both parties acknowledged the benefits of an ambitious FTA which is comprehensive, has WTO-plus outcomes for goods and services, and is completed as a single undertaking within a reasonable timeframe.
It was agreed that the first round of substantive negotiations for an Australia-GCC FTA will take place in Australia in July. Negotiations will cover issues including market access for goods and services in the first round.
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