Quotes from the news wire:
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, 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.
Found on Reuters 3 years ago
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