GCC Customs Union committee set up to spur regional trade

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Dr Abdullatif Al Zayani, secretary general of the GCC, said the regional body has formed a committee that will manage the setting up of a customs union which could make the flow of goods easier between the six member states. The UAE’s official WAM news agency quoted him as saying that the final report on the establishing of a customs union would be submitted next month with the first meeting set to take place in June.

Al Zayani confirmed on the sidelines of the 40th meeting of the Federation of GCC Chambers of Commerce and Industry in Abu Dhabi on Monday that a committee comprising of Customs General Directors in GCC countries has been formed that will study all topics related to the establishment of the Customs Union between Member States.

Observers blame red tape involved in the movement of goods among the GCC member states as one of the main obstacles to trade in the region.

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