Topic “Gulf countries” — Exporter Magazine

Citing the state news agency WAM, the report said, the Gulf state has hooked up with the Union Cooperative Society supermarket chain to cut prices on two varieties of rice and Arabic bread. The reduction would run from April 1 to the end of the year. The country’s minister of economy Sultan Al Mansouri was reported saying the heads of state of the six-nation Gulf Cooperation Council (GCC) would discuss the monetary union when they hold their annual summit in Abu Dhabi on Tuesday (Dec7, 2010). The Gulf countries currently import up to 90% of their food products to meet the rising demand with the UAE expenditure alone reaching up to $6.78 billion (NZD$9.53 billion) in 2009, according to TradeArabia.com.