Objectives of the agreement:
to liberalize trade in goods by removing or reducing tariffs and limiting the application of non-tariff measures.
Entry into effect: January 1981
Benefits:
- Full exemption on all commodities, both agricultural and industrial.
- The domestic value added agreed in the rules of origin is 40% and there are preferential rules of origin for some goods agreed upon between member states.
- Most Arab countries are parties to the agreement except Somalia, Djibouti, Comoros, and Mauritania.
- Granting imports of goods between the Arab Member States the same treatment granted to national products and non-application of customs duties on them.
- Non-tariff barriers or barriers between member states shall not be applied.