Several Arab states against preferential treatment outside the Arab free -trade zone
Regional, Economics, 9/10/2004
Several Arab states announced that they will not agree on a preferential treatment of certain products exchanged outside the Arab Free-Trade Zone (AFTZ), in implementation of the decisions made at the Arab summit of Beirut, held in 2002.
Morocco, Jordan, Lebanon, Syria, Tunisia and Egypt informed the economic and social council of the Arab league, held on Tuesday in Cairo in its 74th ordinary session, of their decision to lift the preferential treatment pertaining to certain products exchanged outside the AFTZ.
In this meeting, the council focused on the need to define the rules of production of certain Arab goods and to set up a plan to provide technical aid to the underdeveloped countries to help them have a distinguished place in the AFTZ.
During this session, held by the ministers of economy and finance, the council examined several issues related, especially, to the great AFTZ, the actualisation of the Arab convention investment, security and bilateral negotiations between the Arab states.
The AFTZ, created in 1997, gathered 90% of total commercial trade between the Arab states, especially that it reduces the customs tariffs progressively.
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