Dubai cancels gold customs duties

Dubai decided to exempt jewelry and gold products from customs duties between Nov.28 and April 10, in a bid to promote local sales, reports the Kuwaiti news agency, KUNA.

Kuna quoted Dubai Shopping Festival committee chief Ahmad Bin Saeed Al-Maktoum as saying that this measure was decided by Dubai Crown Prince Mohammad Bin Rashed Al-Maktoum.

He added that the measure is a government's support for the international festival and to allow gold traders more flexibility.

The chairman of the customs department said this measure will reflect positively on trade and economy before and after the festival.