In early 2005, all goods of Arab origin exchanged between the member states of the Greater Arab Free Trade Area (GAFTA) were exempted from all customs duties, duties and taxes of similar effect imposed upon importation.

The establishment of this region is supportive of the Arab trade environment and the Arab intra-Arab trade movement, thus expanding the opportunities for integration among the Arab markets. Thus, it represents an advanced step on the path of Arab economic cooperation and investment of trading opportunities available in Arab countries markets. It is expected that the region will also push for the rehabilitation of the investment environment to attract investments and joint ventures and improve the competitiveness of Arab products as a result of removing tariffs, canceling many procedures and fees of similar effect and reducing the non-tariff barriers to a minimum, Arabic Intermediate. The region was called the Greater Arab Free Trade Area (GAFTA) in order to distinguish it from free trade zones established on a country basis.

 

Definition of Greater Arab Free Trade Area