Wednesday, May 25, 2005

Gulf ministers 'accept US duty-free plan' :: Gulf News

Gulf Arab finance ministers have agreed that duty-free US imports may be exempted from their unified tariff system, accepting that they cannot stop bilateral free trade deals with Washington, a Gulf source said yesterday. He said the agreement by finance ministers earlier this month to accommodate individual accords with the United States will be presented to foreign ministers of Gulf Cooperation Council (GCC) for approval on June 4.
The issue is not expected to be a major point of contention at Saturday's summit meeting of Gulf leaders in Riyadh, which will review a progress report on the GCC customs union and progress towards a common market and monetary union in 2010.



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