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GCC leaders to affirm commitment to single currency.
(From Gulf News)
Byline: Nadim Kawach, Bureau Chief
The GCC heads of state meeting in Kuwait this month are expected to affirm their commitment to an historic agreement involving the unification of their customs tariffs and the creation of the region's first monetary union.
Although they will not be free of obstacles, the six nations are determined to push ahead with the two landmark projects that could eventually lead to an EU-style single economic entity and strengthen the GCC's fiscal and economic position.
"Of course there will be no going back...the GCC countries are determined to implement those two vital projects and achieve full economic and monetary integration," said Mohammed Al Hais, Deputy Director for the Customs Union Affairs at the Riyadh-based GCC Secretariat. …
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