The free trade agreement that India and Gulf countries hope to sign will give Indian firms greater access to the $1-trillion market in the Middle East, apart from a cost-competitive route to western economies like the US, a senior executive of Bahrain's Economic Development Board has said.

"The six GCC (Gulf Cooperation Council) countries are a $1-trillion market. This region is going to contribute sizeably to global economic growth," said the board's chief operating officer Kamal Ahmed here Monday.