FGCC Chambers Chief: Trade between GCC Countries Still Facing Obstacles

Doha, March 03 (QNA) - The trade between the GCC countries is still facing many obstacles, although it jumped from $ 15 billion in 2002 to $ 65 billion in 2010, Secretary General of the Federation of GCC Chambers of Commerce and Industry (FGCC Chambers) Abdulrahim Hassan Naqi said. In spite of the steps and efforts which were made to boost the trade between the two countries such as the GCC Common Market, Naqi said, that there are a number of constraints that are still facing the GCC trade such as limiting the wholesale trade in certain activities in some countries, the restrictions on ownership of land and stock, not allowing the establishment of companies without a national partner as well as not allowing to open branches of commercial banks and others. In an interview with Qatar News Agency (QNA), the FGCCC Secretary General called for accelerating the unifying of all legislations, regulations and procedures governing trade, both tariff and non-tariff between the GCC countries as well as the laws of specifications and standards in order to reduce the technical barriers. Naqi also called for establishing a higher customs authority for the GCC countries composed of representatives of the concerned official bodies and the private sector to oversee the customs performance. The FGCC chief underlined the importance of increasing awareness of the private sector, producers and exporters, of all the procedures and documents required to export products to the rest of the GCC countries. Naqi noted that the FGCC had proposed to extend the work of border posts to 24 hours in order to facilitate the movement of goods, especially those prone to damage, and to rehabilitate these ports with cadres and advanced technology supplies that helps speeding up the inspections and customs clearance. (QNA)