... Regional overtures

Article Abstract:

Jordan's King Abdullah intends to reestablish economic and political ties that the country lost when it made a pro-Iraqi stance during the Gulf War. By decreasing its economic dependence on Iraq, Jordan has renewed its relationship with Kuwait and Syria. In fact, Jordan reopened its embassy in Kuwait on March 3, 1999. The two nations also signed a memorandum of understanding that allows Jordanian and Kuwaiti firms to participate in each others stock exchange market. Meanwhile, Jordan and Syria has signed several economic cooperation agreements.

Intnl Economic Policy, Middle East, Syrian foreign relations, Syria, International economic relations, Jordan, International cooperation, Kuwait, Kuwaiti foreign relations, Jordanian foreign relations

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GCC fails to approve unified customs tariff

Article Abstract:

The Gulf Cooperation Council (GCC) has unsuccessfully tried to reach a pact on a common customs tariff that would have facilitated the establishment of a shared Gulf market and a free trade pact with the European Union (EU). The EU, which serves as the GCC's primary trading ally, said that the six GCC member states would have to reach a deal on a unified customs tariff before the EU can sign a free trade pact with the GCC. GCC delegates have failed to concur on the classification of several products such as steel and petrochemicals.

Tariffs & Duties, Customs Regulations, Conferences, meetings and seminars, European Union, Customs administration, Tariffs, Persian Gulf, Gulf Cooperation Council

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Cyprus relaxes rule on foreign investment

Article Abstract:

Cyprus introduces foreign investment rules designed to attract and develop foreign investment in the country. The new law is also designed to further improve the country's economy in preparation to its plan of joining the European Union. The new law allows 49 percent ownership for foreign investors who will engage activities such agriculture, animal husbandry, fishing and forestry, among others. Foreign investors, meanwhile, are given 100 percent participation in activities related to manufacturing and services.

Foreign Investment Regulations, Foreign investments, Laws, regulations and rules, Cyprus, Foreign investment laws, Foreign trade promotion

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