Egypt and Jordan implement second stage of Arab free trade zone accord

Egypt and Jordan informed the Arab League of their implementation of the executive program for the greater Arab free trade zone, dictating the reduction of custom duties imposed on Arab imports by 20%.

The Arab League's assistant secretary general for economic affairs, Abd El-Rahman El-Sahibani, said the number of Arab states that informed its customs authorities on reducing customs duties and taxes by 10% annually and liberating imports from Arab states from all custom restraints has amounted to 14 Arab states whose trade forms 93% of the Arab trade volume.

El-Sahibani added that the social and economic council, which holds its 63rd session on the level of Arab economic and finance ministers under the chairmanship of Sudan today, will concentrate on easing some of the non-customs duties that obstruct the Arab free trade zone, in addition to discussing the mechanism of following up on the application of an executive program inside each member state in the region.