Comments on Saudi Arabia’s amended import rules in Reuters, 5 Jul 2021

Dr. Nasser Saidi’s comments appeared in the Reuters article titled “Saudi Arabia amends import rules from Gulf in challenge to UAE“, published 5th July 2021.

Comments are posted below:

“The original customs union agreement, established Jan 2003, no longer serves the needs of the GCC countries … including Saudi and the UAE and in light of the increased competition between the two countries pursuing similar non-oil diversification activities,” said Nasser Saidi, a Dubai-based economist.

“The current dispute, while disruptive in the short-term, can open the door to a more efficient, modern, trade and investment framework and agreement that would boost growth prospects and allow for greater diversification, higher value-added regional trade,” he said.

 

 

 

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