Inter- Arab free zone area in 2005

The Arab League (AL) economic council has decided to form the customs federation committee of representatives of sides concerned in the Arab states to discuss the needs of establishing the federation.

The council also discussed setting up the taxation coordination committee among the Arab states as well as bringing nearer the establishment of the free Arab trade area which was basically decided to be enforced in 2007 to the beginning of 2005.

The council assigned the general secretariat in collaboration with the Arab Monetary Fund and the general federation of the chambers of commerce, industry and agriculture to define non- customs restrictions with the aim to ultimately eliminate them.

Earlier, the economic council announced that comprehensive liberalization of the inter- Arab trade will only be maintained through eliminating only the customs tariff but also administrative and monetary tariffs.