Arab News reported that the Gulf Cooperation Council and India free trade agreement, if implemented by 2010 will see trade of USD 40 billion.

According to the Associated Chamber of Commerce and Industry of India, India’s total trade with GCC countries saw a 4 fold increase in the last 5 years.

Mr Said Kamal Ahmed COO of the EDB said that “India and Bahrain have agreed to speed up negotiations to finalize an Indo GCC Free Trade Agreement that would see trade between India and the GCC exceed USD 40 billion by 2010.”

He said that “The GCC, China and India are seen as the 3 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.”

(Sourced from Arab News)