New Delhi, Feb. 5 -- India and the Gulf Cooperation Council (GCC) member countries signed the Terms of Reference for a Free Trade Agreement (FTA) on Thursday in the national capital.

Chief Negotiator for GCC, Raja Al Marzouki, highlighted the importance of the proposed free trade agreement, noting that globalisation is under attack.

GCC is a group of six Arab countries: Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates.

"So it's a message. It's a signal for the whole group, for the whole globe, and it's important for us at this time to try to be more cooperative, to avoid any risk that our global economy facing as a result of uncertainty," he said.

He welcomed the Indian side to hold the first round of negotiati...