VOL. XLII

No 49

6-December-1999

GCC

GCC Delays Common Tariff Policy Till 2005

Despite optimism that the GCC is still committed toessential reforms irrespective of a rebound in oil prices many membercountries are still pursuing adjustment measures even with crude oil at between$20-25/B the latest summit agreement is ominously reminiscent of formerinertia. In a statement released on 30 November, following its 20thannual summit, the GCC announced that its members had agreed to postpone the...