Saudi Arabia amends import rules from Gulf in challenge to UAE By Reuters – Investing.com

  • Date: 05-Jul-2021
  • Source: Investing.com
  • Sector:Economy
  • Country:Saudi Arabia
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Saudi Arabia amends import rules from Gulf in challenge to UAE By Reuters – Investing.com

By Aziz El Yaakoubi, Marwa Rashad and Davide Barbuscia

DUBAI (Reuters) - Saudi Arabia has amended its rules on imports from other Gulf Cooperation Council countries to exclude goods made in free zones or using Israeli input from preferential tariff concessions, in a challenge to the United Arab Emirates as the region's trade and business hub.

Despite being close allies, Saudi Arabia and the neighbouring UAE are competing to attract investors and businesses. Their national interests have also increasingly diverged, such as in their relations with Israel and Turkey.