Riyadh, Jun 9, 2022, SPA -- The Gulf Cooperation Council (GCC) for Arab States and the Republic of Korea concluded here today the 5th round of negotiations on a free trade agreement (FTA). The two sides launched their negotiations on June 6, during which they dealt with many topics aimed at increasing the flow of intra-trade, enhancing investments between the two sides, and opening global markets in front of the exports of the GCC member states. General Coordinator of Negotiations and Head of the GCC Negotiating Team, Abdurrahman bin Ahmed Al-Harbi stated that such agreements come in implementation of the directives of the leaders of GCC member states towards strengthening the position of the Council and supporting its strategic relations with its partners around the world. He said that the agreement, which is under negotiation right now will contribute to enhancing common gains, stimulating economic, commercial and investment growth in the GCC countries, supporting entrepreneurship and strengthening the business sectors in the GCC countries. --SPA 23:36 LOCAL TIME 20:36 GMT 0026 www.spa.gov.sa/w1744795