Saudi Companies Outline Challenges in Facilitating Flow of Goods with GCC Countries

The Federation of Gulf Cooperation Council Chambers (FGCCC) aims to ensure the smooth flow of goods within member states. (Asharq Al-Awsat)
The Federation of Gulf Cooperation Council Chambers (FGCCC) aims to ensure the smooth flow of goods within member states. (Asharq Al-Awsat)
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Saudi Companies Outline Challenges in Facilitating Flow of Goods with GCC Countries

The Federation of Gulf Cooperation Council Chambers (FGCCC) aims to ensure the smooth flow of goods within member states. (Asharq Al-Awsat)
The Federation of Gulf Cooperation Council Chambers (FGCCC) aims to ensure the smooth flow of goods within member states. (Asharq Al-Awsat)

The Federation of Gulf Cooperation Council Chambers (FGCCC) is collecting proposals from member states on the technical challenges and non-tariff obstacles that hinder the agreement on the requirements for certificates of conformity and quality.

Sources told Asharq Al-Awsat that the Gulf Cooperation Council (GCC) member states continue to make progress towards completing the necessary steps to reach Gulf economic integration.

They said this step aims to understand the challenges facing the industrial and commercial sectors, whether technical or non-tariff obstacles, that affect the completion of the Gulf customs union and the common market.

The efforts exerted by the Federation help in enhancing the effective flow of goods and products between member states.

Informing Saudi companies

The Federation asked the Saudi private sector to fill out a special questionnaire outlining the challenges facing them in establishing the Gulf customs union and the mechanisms of the common Gulf market.

The Federation recently launched the first GCC Business and Tenders Gate within a series of platforms to keep pace with digital transformation and facilitate cooperation by providing and displaying the most essential Gulf trade and economic opportunities.

GCC Business and Tenders Gate is a fully functional business guide, service search engine, and business accelerator that connects all public and private businesses.

It is the only official governmental platform representing the GCC countries in all the updated tenders and projects, providing an additional unique service feature with daily updated tenders in all the GCC.

It will also update members in the six countries with all the business and tender news and the latest updates for any sector or service.

Tenders and trade

The platform is divided into three main sections: the government and private tenders section, which contains all government agencies and departments, as well as private sector tenders.

It also includes all decisions and cooperation mechanisms between local and regional companies for entrepreneurship.

The third section is a media center that includes the latest news and reports on Gulf projects, which helps investors and business owners follow up on projects and participate in them to increase the local and Gulf national product.



E-commerce Giant Alibaba Has Completed 3-year 'Rectification' Period

Alibaba Group has completed three years "rectification" following a fine levied in 2021 for monopolistic behavior. Reuters
Alibaba Group has completed three years "rectification" following a fine levied in 2021 for monopolistic behavior. Reuters
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E-commerce Giant Alibaba Has Completed 3-year 'Rectification' Period

Alibaba Group has completed three years "rectification" following a fine levied in 2021 for monopolistic behavior. Reuters
Alibaba Group has completed three years "rectification" following a fine levied in 2021 for monopolistic behavior. Reuters

China's State Administration of Market Regulation issued a statement on Friday saying Alibaba Group had completed three years "rectification" following a fine levied in 2021 for monopolistic behavior.
In 2021, the regulator slapped a record $2.75 billion fine on the e-commerce giant for abusing its market position by forcing merchants on its platforms not to work with rival platforms.
The regulator's statement said Alibaba's rectification work had achieved "good results" and that it would continue to "guide" Alibaba to continue to "regulate its operations and improve its compliance and quality."
The fine levied on Alibaba in 2021 came during a period of intense scrutiny for the business empire founded by billionaire Jack Ma, Reuters reported. A $37 billion IPO by the finance arm he founded, Ant Group, was also scuttled following Ma's public critique of the country's regulatory system in late 2020.
Alibaba, in its own statement, described the regulator's announcement on Friday as a "new starting point for development" and said it would continue to "promote the healthy development of the platform economy and create more value for society."