The six Arab countries which are members of the Gulf Cooperation Council (GCC) agreed in principle to eliminate duties on steel and cement imports at a finance ministers' meeting in Riyadh last week, according to Arab media reports.
Citing GCC Secretary-General Abdul Rahman Al-Attiyah, the reports said that the final decision to abolish five percent import tax on steel is expected to be announced following the GCC summit meeting which starts in Riyadh on May 11.
"GCC citizens are looking forward to benefiting from the fruits of economic integration, especially a customs union," Mr. Al-Attiyah said.
Saudi Arabia, the United Arab Emirates, Oman, Qatar, Bahrain and Kuwait are the six members of the GCC bloc of countries.