In view of the growing economic relations between the GCC Member States and New Zealand, and the desire of the government of New Zealand to develop such relations, the government of New Zealand requested to enter into FTA negotiations with the GCC. New Zealand's request was welcomed and approved by the GCC Financial and Economic Cooperation Committee in June 2006.
Two preparatory meetings between experts from the GCC and New Zealand were held in Riyadh in December 2006 and April 2007, wherein the two sides discussed a mechanism for launching the GCC-New Zealand FTA negotiations and the headlines of the provisions to be incorporated in this agreement. Several rounds of negotiations were held and the initial signing of the Agreement was made in 31st October 2009. The two parties are to review this agreement and prepare it in its final form.