GCC – Gulf countries launch GCC Customs Union Authority

THE six Gulf countries have announced the launch of a formal body to strengthen cross-border trade, following the creation of a Customs Union in 2003, UAE official news agency WAM reported. The GCC Customs Union Authority will deal with pending issues regarding the customs union agreements before the GCC Supreme Consultative Council meeting in 2014, and eventually drawing up the final version of the customs union in 2015, said Khalid Ali Al Bustani, acting director general of the new body.

 

“At the forefront of such issues is the mechanism for distributing customs duties between member countries, the study of customs protection and ways for its implementation at first entry points, and completing a study on ways to deal with American commodities coming from some GCC countries,” Al Bustani said.