Calls to remove custom duties in the Arab states

Arab Economic Union Council called its eleven member countries to suppress custom duties and taxes on goods and services by 2005 and to adopt a strategy of economic complementarity in the next two years.

The council that held in Cairo on Wednesday its 77th session underlined the necessity to unify legislations and custom duties systems between member states and to move ahead towards a free trade zone within a three-year deadline, starting in January 2005.

The council recommended the creation of an Arab fund for trade, investment and development, and speeding up procedures to create an Arab academy for electronic activities and an Arab e-commerce company.

The meeting also focused on ways to carry out the Arab joint market project and draw up an Arab economic strategy.