Kuwait Urges "New Mechanism" For Arab Customs UnionSource: www.export-egypt.com 5/29/2017, Location: Middle East |
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Finding a "new mechanism" is essential for forming Arab Customs Union and, eventually, Arab joint market, a Kuwaiti official stressed
It is important to evaluate the past 19 years of activities of the Greater Arab Free Trade Area (GAFTA), which entered into force in 1998, Yousef Al-Roumi, Director of Arab and Gulf Economic Cooperation Department at Kuwaiti Finance Ministry, said. Al-Roumi made his remarks in his opening speech at the 43rd meeting of the implementation and follow-up committee, affiliated with Arab League's Economic and Social Council, in Cairo. GAFTA was the easiest phase in achieving Arab economic integration; yet, it took a long time to enter into force, he noted, adding that following that same approach would waste more time until reaching the desired Arab joint market. Thus, it is important to find a new mechanism in order to exit the constant delays situation, the Kuwaiti official said, stressing the importance of reconsidering the role of the Arab League's committees in following up GAFTA's implementation. |
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