Customs Union agreed upon exempting steel and cement from custom tariffs
Ministers agreed at the conclusion of their meeting on Saturday to exempt steel and cement from customtariffs, Gulf Cooperation Council (GCC) Secretary General Abdulrahman Al-Attiyah said.
This agreement will be referred to the leaders of the GCC states who will hold a consultative summit in Riyadh, Saudi Arabia, next Tuesday, he said in a statement.
The finance ministers, he said, also agreed to allow movement of goods between the six GCC countries.
Al-Attiyah said the GCC leaders would be discussing a host of economic and financial integration issues including the common market, the custom union and Saudi King Abdullah's initiative to removeall hurdles regarding economic
The GCC chief said the finance ministers' meeting contributed to boosting the Gulf common market.