[ad_1]
The second meeting of the Trade Facilitation Committee is held at the headquarters of the League of Arab States within the framework of the Great Arab Free Trade Area, under the chairmanship of the representative of the Kingdom of Bahrain and with the participation of representatives of Arab trade and industry ministers.
Mr. Bahjat Abul-Nasr, Director of the Department of Economic Integration of the League of Arab States, said the meeting would discuss a number of topics related to trade facilitation, including the first draft of the report. Legal Annex on Trade Facilitation in the Free Trade Area.
He added that the committee had been set up to prepare this legal annex on trade facilitation in the framework of the Free Trade Area, adding that the issue of trade facilitation fell within the competence of the United States. World Trade Organization since its inception in 1994. This agreement was amended in 2002, This agreement was developed more than once, stressing that all regional groupings have a special annex to facilitate trade, but that countries Arabic members of the Arab Free Trade Area did not have this annex on trade facilitation.
The purpose of the ALE was to facilitate trade. It was therefore necessary for Member States to prepare a special annex to facilitate trade within the FTA.
He added that trade facilitation is one of the topics that has attracted attention in recent years because of its impact on reducing the costs of current transactions, which are the main obstacles to the flow of trade, which appear more in developing countries, less able to bear additional burdens.
The annex on trade facilitation contains a number of articles that reflect the willingness of Arab countries to strengthen economic cooperation, to liberalize intra-Arab trade and to develop it within the Arab region by speeding up circulation, release and clearance of goods, including goods in transit. Increase the terms of the exchange between the Arab countries.
The committee is to submit this annex to the Economic and Social Council in September to consider its adoption.
[ad_2]
Source link
