Gulf secretary general: Customs federation in force today
Gulf, Economics, 1/1/2003

As from today, the Gulf Cooperation Council (GCC) states will achieve a qualitative step towards a customs union and its related agreement, in implementation of the resolutions of the 23rd summit which was held in Doha on December 20 and 21, 2002 in Doha.

In a statement, the GCC secretary general Abdul Rahman Bin Hamad al-Ateyah said that this step is considered a qualitative turning out at the level of common economic cooperation among the Gulf states and would contribute to strengthen the Gulf structure as an economic bloc in its relations and negotiations with world economic blocs and groups. Al-Ateyah indicated that the customs federation agreement allows exempting goods exchanged between the GCC member states from customs fees as well as pursuing common regulations and measures and one entry point at which customs fees are calculated ( at a rate of 5%), the transfer of goods without customs or other fees and treating any commodity produced in any GCC member states the same as national products.

The agreement also states that all GCC member states will take necessary measures to achieve better conditions and equal conditions at international economic relations. This, however, includes pursuing a negotional strategy in a collective spirit that supports the negotiation position of the GCC and finalizing the economic agreement collectively with trade partners, unifying measures and the regulations relating to exports, imports.

Previous Stories:
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  Gulf summit today in Qatar   (12/21/2002)
  Gulf leaders boycott the GCC summit in Qatar   (12/19/2002)
  Gulf states: Customs federation to be in force as January 2003   (12/16/2002)
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