Gulf States Agree to Begin Common Market From 2008

Six Gulf Arab states, including Saudi Arabia and the United Arab Emirates, will form a common market from the beginning of next year, said Abdul Rahman al-Attiyah, head of the Gulf Cooperation Council. Citizens and businesses of the GCC, which also includes Kuwait, Qatar, Oman and Bahrain, will have equal economic rights throughout the region, al-Attiyah told delegates after a meeting of heads of state in Doha, Qatar, today. GCC citizens, for example, will be able to buy stocks in listed companies within the bloc under the same conditions, he said. GCC countries eliminated tariffs between members’ exports in 2003. Full Story

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