Syria, Gulf cooperation council sign a free trade zone agreement

Syria and the Gulf Cooperation Council ( GCC ) Sunday signed an agreement to establish a free trade zone.

The agreement was signed by Deputy Minister of Economy and Foreign Trade Ghassan Habash for the Syrian side, and the General Coordinator for the negotiations at GCC for GCC side.

Following the signing ceremony, Habash said the agreement aims at liberating the trade exchange between both sides through the cancellation of customs fees and taxes after the two sides ratify the agreement.

He added this agreement stipulates that both sides will soon begin the negotiations to liberate the trade in the services gradually, according to the articles of the Trade Liberation Agreement among Arab states and to GATT Agreement.