Important economic topics on summit's agenda

Kuwaiti Finance Minister Anas Al-Saleh said here on Tuesday that there are a number of economic reports and important topics listed on the 35th GCC summit's agenda tonight.
Al-Saleh told KUNA that among the economic issues brought to the agenda of the summit were the reports of work progress in the GCC Customs Union, the GCC common market, the workflow of the railways network between the GCC states as well as a report on the issue of water security of the Gulf.
Al-Saleh added that the most important achievements of the Customs Union project is the application of the joint collection mechanism through an electronic system that will be applied at the beginning of 2015 so as to collect customs revenues electronically without the need to hold meetings of the Committee on clearing, a matter that would facilitate the inter-trade between the GCC countries.
He explained that the electronic collection system would facilitate a lot in the process of movement of goods between the GCC countries after implementing the unification of customs tariff to the world and the development of a unified customs law for the GCC countries till achieving an integrated customs union without any obstacles for the sake of achieving the ambitions of the GCC citizens.
He noted that the Kuwaiti General Department of Customs has linked with a number of Gulf states for the collection of customs revenues electronically.
He stated that there are a number of issues that are still under consideration by the Finance Ministers with regard to customs protection and the protection of the local agent which are being discussed by the Committee on Financial and Economic Cooperation and the Customs Union Authority, hoping these would be completed during this year.
Source: KUNA