Saudi Arabia cuts import duties

Saudi Arabia has announced it is to cut duties on imported goods from 12% to 5%.

An official statement said the move, by the country's Supreme Economic Council, was designed to strengthen the competitiveness of the national economy.

Correspondents say that the Saudi Arabian decision comes in the context of attempts by the Gulf Cooperation Council to try to unify its customs duties.

They say the unification of rates is a key condition for establishing a common market among the Gulf states.

From the newsroom of the BBC World Service