By NNN-KUNA,
Doha : Ministers of Finance and Economy agreed here to remove all obstacles facing GCC custom union, Kuwait’s Minister of Finance Mostafa Al-Shimali said.
Al-Shimali, speaking to KUNA after the meeting on Saturday, said removal of obstacles would take place through special committees tasked with following up the implementation of the custom union of the six-state Gulf Cooperation Council (GCC).
The ministers, he said, assigned GCC secretariat to study best means to collecting and distributing of custom duties among GCC member states — Kuwait, Saudi Arabia, Qatar, Bahrain, Oman and the United Arab Emirates (UAE).
The ministers, said Al-Shimali, discussed the GCC monetary union. Governors of central banks were called to meet to complete the monetary union treaty.
Ministers of Finance will meet with the governors next September over this issue, he noted.
The September meeting, explained Al-Shimali, will feature comprehensive revision of the monetary union treaty and placing a detailed timetable for the establishment of the Gulf Monetary Council.