Saudi Arabia amends import rules from Gulf in challenge to UAE ...Egypt

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Saudi Arabia amends import rules from Gulf in challenge to UAE
source : EGYPT INDEPENDENT ( Egypt ) () 8
DUBAI, July 5 (Reuters) – Saudi Arabia has amended its rules on imports from other Gulf Cooperation Council countries to exclude goods made in free zones or using Israeli input from preferential tariff concessions, in a bid to challenge the United Arab Emirates’ status as the region’s trade and business hub. Despite being close allies, Saudi Arabia and the neighbouring UAE are competing to attract investors and businesses. Saudi Arabia – the biggest importer in the region – is trying to diversify its economy and reduce its dependence on oil, while providing more jobs for its own citizens, a point also covered by the rule changes announced at the weekend. The two countries’ national interests

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