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UAE chairing Arab Economic and Social Council

The UAE is chairing the 7th extraordinary meeting of the Arab Economic and Social Council, which began today at the headquarters of the General Secretariat of the Arab League.

The three-day meeting of senior officials will discuss a range of issues, including rules of origin, which was also discussed during the council’s previous meeting in February.

Mohammed Saleh Shelwah, Advisor to the Minister of Economy, who is chairing the meeting, stated that the meeting was attended by members of the Technical Committee of Arab Rules of Origin, who explained the rules of the origin of Arab goods traded within the Greater Arab Free Trade Zone.

In his statement on the sidelines of the meeting, Shelwah said that since 2005, the free zone has approved a 40 percent value added to the trade of goods after assessing their rules of origin, while noting a parallel decision to negotiate on the more detailed rules of origin.

“We are monitoring these negotiations on the rules of origin, which are 90 percent complete. We hope that we will fully complete the detailed rules of origin in the Arab region at this meeting,” he said.

Source: WAM

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