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FINANCIAL NEWS
GCC inter-trade reaches USD115bn
05 Dec 2016
(MENAFN) The Gulf Co-op Council’s (GCC) resolutions have contributed in easing the flow of goods between the GCC States and raise the inter-trade value from USD6bn to USD115bn.
Accordingly, the trade between the GCC countries viewed a noticeable increase in the first year amounting to 51 percent.
Moreover, the intra-regional trade”s volume has increased in the past decade from USD15bn in 2002 to almost USD115bn in 2015, an increase of 657 percent.
Meanwhile, the GCC States have worked to remove tariff barriers between them with regard to their products and having them exempt from customs duties.
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