Customs Union. Trade between the GCC member States will be conducted within the framework of a customs union that will be implemented no later than the first of January 2003. It shall include, at a minimum, the following: i. A common external customs tariff (CET). ii. Common customs regulations and procedures. iii. Single entry point where customs duties are collected. iv. Elimination of all tariff and non-tariff barriers, while taking into consideration laws of agricultural and veterinarian quarantine, as well as rules regarding prohibited and restricted goods. v. Goods produced in any Member State shall be accorded the same treatment as national products.
Appears in 3 contracts
Sources: Economic Agreement, Economic Agreement, Economic Agreement