AlQa'dah 4, 1432, Oct 2, 2011, SPA -- The UAE Ministry of Finance hosted here today the 36th meeting of the Gulf Cooperation Council (GCC) Committee for Undersecretaries of Ministries of Finance and Economy, as WAM reported. The meeting emphasized a number of important decisions by the GCC Supreme Council, which were announced during its 31st session. It focused on finalizing all requirements for the GCC Customs Union and on addressing all its related challenges and obstacles, in addition to reiterating the importance of exerting greater coordination and consultation efforts to attain a common, unified vision for the Union. The meeting's agenda also included a follow up session on the implementation of the plans and directives resulting from different GCC monetary and economic committees, such as the Committee of Governors of Monetary Agencies and Central Banks, the GCC Customs Union Committee, and the team tasked with preparing and participating in cooperation meetings and discussions with the European Union (EU) and other countries and financial institutions. Attendees also reviewed key accomplishments made by the Gulf Common Market Committee, the financial and technical team tasked with finalizing studies regarding the GCC railway project, and the team concerned with researching and studying the economic judiciary system The meeting concluded with discussions on the extension in implementing decisions to apply customs tax and duty exemptions on national products within GCC borders. Participants also evaluated the initiatives proposed by the GCC to the World Trade Organization (WTO), and reviewed joint GCC investments in the education and health sectors.
