ABU DHABI: The implementation of a new electronic system for the automatic transfer of customs duties among the GCC countries is set to facilitate trade between Gulf countries, and raise the competitiveness of the UAE’s economy, a top spokesperson said.
Mohammad Buosaiba, Director-General of the Federal Customs Authority (FCA), said at a press conference on Wednesday that all GCC countries, with the exception of Oman, have already started implementing the new automated system.
Oman is expected to implement the system in the first quarter of 2016.
The system, which is in line the with UAE’s vision to boost the use of smart technologies across its government departments, will help reduce paperwork and protocols, and eliminate obstacles in the export and import of products across GCC countries.
The official implementation of phase two started in late October, with 11,000 transactions valued at Dh91 million having been processed in the 45 days since then.
The value of direct non-oil trade between the UAE and other GCC countries reached Dh750.4 billion between 2003 and mid-2015, with imports into the UAE accounting for Dh286 billion.
Meanwhile, the value of non-oil exports in the same period from the UAE to GCC countries reached Dh185.6 billion, with re-exports amounting to Dh279 billion.
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