Saudi Arabia has reimposed five percent customs duties on steel and cement imports that had been placed on hold for the last two years. As reported by various news sources, the decision to reimpose duties on all rebar and cement imports was circulated to all Saudi border ports as of the beginning of 2010.
The Gulf Cooperation Council (GCC) countries that are reportedly exempted from Saudi Arabia's decision are expected to follow Saudi Arabia and impose duties on steel and cement imports as agreed at the GCC Financial and Economic Cooperation Committee meeting in Muscat, Oman at the end of May 2009, the reports said.