India`s total trade with GCC Countries registers Four-Fold Hike

MANAMA, November 10, SPA -- The Six-nation Gulf Cooperation Council and India free
trade agreement (FTA), if implemented by 2010, will see trade of $40 billion, a
senior official at the Economic Development Board (EDB) has said.

According to the Associated Chamber of Commerce and Industry of India (ASSOCHAM),
India’s total trade with GCC countries saw a four-fold increase in the last five
years.

“India and Bahrain have agreed to speed up negotiations to finalize an Indo-GCC
Free Trade Agreement (FTA) that would see trade between India and the GCC exceed
$40 billion by 2010,” said Saed Kamal Ahmed, Chief Operating Officer of the EDB.

“The GCC, China and India are seen as the three new economic powerhouses. All
have demonstrated a track record of growth and strong macroeconomic credentials to
make them relatively resilient in the global economic downturn. Together, they now
have real opportunities for investment and bilateral trade,” he was quoted as
saying by the Jeddah-based Arab News.
--SPA