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Europe Daily Bulletin No. 8070

15 October 2001
Contents Publication in full By article 22 / 43
GENERAL NEWS / (eu) eu/gcc
Finance ministers propose bringing Customs Union forward to 2003 - Contacts in view of negotiations with EU before year-end

Brussels, 15/10/2001 (Agence Europe) - The finance ministers of the GCC (Gulf Co-operation Council: Saudi Arabia, Bahrain, Arab Emirates, Kuwait, Oman and Qatar) propose bringing forward implementation of their customs union to 2003. Meeting in Rhyadh over the weekend, they also decided to create a single currency in 2010.

Planned for end-2000, the Customs Union was postponed to 2005 by the Heads of State in December 1999. Whereas they were close to their goal, the GCC General Secretariat...

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