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GCC okays use of certificate
of origin

ABU DHABI — In a major development, the top GCC trade and industry officials have approved the use of the certificate of origin issued by the GCC and the UAE Ministry of Economy and their acceptance by the Customs administrations in the memberstates.

The GCC’s ministers of Trade and Industry, who met here under the chairmanship of UAE Economy Minister Sultan bin Saeed Al Mansouri, approved the draft Law for Trademarks, which will be forwarded to the Supreme Council for approval as a mandatory throughout the GCC.

A substitute for the law was adopted by the Supreme Council at its 27^th meeting.

The ministers decided to re-draft the law of the Technical Committee for further discussion in light of the observations of member States, and to submit it to the next meeting — the 45^th — of the Trade Cooperation Committee.

The ministers also approved the technical cooperation programme with UNIDO for technical support by the Gulf Organization for Industrial Consulting, which is expected to further strengthen industrial development in the GCC countries. The ministers decided to provide the GCC Secretariat with suggestions about the law for industrial organisation of the GCC countries, and its regulations.

On the Secretariat’s proposal to extend the regulations to exempt national taxes on industrial input in the GCC States, the ministers approved the extension for a period of three years. — haseeb@khaleejtimes.com