The 3rd round negotiation of China-GCC FTA was closed in Beijing on January 18. Based on the two rounds negotiation, the two sides, divided into 4 groups, negotiated on market access and rules of origin, exchanged views on checking process of customs, TBT, SPS, trade remedies, related laws of goods trade and free trade agreement, and obtained active progress. The two sides satisfied progress in the negotiation and believed this round negotiation created good condition for goods trade agreement to be signed in the end this year.

Vice Minister Yi Xiaozhun led the Chinese delegation, consisted of members from the Ministry of Foreign Affairs, National Development and Reform Commission, Ministry of Finance, Ministry of Agriculture, General Administration of Customs and General Administration of Quality Supervision. And the GCC delegation consisted of representatives from 6 member countries and head of General Secretariat of GCC.

GCC is a regional economic organization in Gulf Area, consisted of Saudi Arabia, the United Arab Emirates, Kuwait, Oman, Qatar, and Bahrain. In recent, economic and trade relations of China and GCC countries developed fast. Bilateral trade was up by 40% annually in 1999 to 2005, and amounted to US$33.8 billion in 2005, up by 36%. By the end of 2005, China and GCC signed project contracting of US$6.6 billion and contracts of labor service of US$1.03 billion. GCC made contractual investment of US$1.04 billion, and actual use investment was US$710 million.