GULF COUNCIL FAILS TO REACH TARIFF DEAL

GULF COUNCIL FAILS TO REACH TARIFF DEAL

Finance and economic ministers from the Gulf Cooperation Council alliance countries ended a two-day meeting Wednesday without reaching agreement on unified tariffs.

The ministers are expected to ask their heads of state for more time on the issue.The ministers meet regularly to consider steps toward creating a common market with the members of the 12-year-old alliance that groups Saudi Arabia, Kuwait, Bahrain, Qatar, Oman and the United Arab Emirates.

Customs tariffs among the states range from zero to 20 percent. Other hurdles include disparity in port fees and in standards and specifications of products in member states.