Arab countries serious that free trade zones agreement will work
Regional, Economics, 9/27/1997

The Arab Ministers of Economy confirmed that they do not have any objection to setting up the Arab free trade zone and that all the measures are ready for implimentation Some Arab countries reduced their customs by an annual rate of 10% in compliance with the Agreement of Setting up Free Trade Zone.

Starting in January 1998, the articles of the Arab Free Trade Zone Agreement will be gradually applied over a period of 10 years. The articles stipulate canceling all customs and barriers between the member countries. Regarding the dealings with non-member countries, all member countries have the right to keep their own customs and their independent systems.

The Free Trade Zone Agreement aims at unifying the customs system between the member countries as a first step leading to founding a customs confederation through which all member countries will have a unified system in their dealings with any non-member country, and which would also lead to founding an Arab joint market.

The Arab League ratified the executive program of the Arab Free Trade Zone on 19 February 1997, it is also responsible for following up the implementation of this program. The Arab League organization responsible for implementing the Arab Free Trade Zone Agreement are the Social Economic Council which is part of the Seven Ministers Committee responsible for solving any problem obstructing the implementation of the first phase, the Follow Up and Implementation Committee which is part of the Trade Negotiations Committee responsible for lifting all the non customs barriers imposed on the Arab commodities and making lists of the commodities and products which the member countries will be prohibited from importing, the Origin Rules Committee, the Directors of Customs Committee and the Customs Information Committee. All the committees will try to make the Arab Free Trade Agreement work in order not to be forgotten like the other Arab agreements.

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