Saudi Arabia's Free Zone Tariff Exclusions Signal Widening Rift.

Read: OPEC+ Shows No Sign of Healing Rift Just Before Talks Resume "Saudi Arabia will exclude from the GCC tariff agreement goods made by companies with a workforce made up of less than 25% of local people and industrial products with less than 40% of added value after their transformation process", the decree said. The change comes as Saudi Arabia plans its own network of free zones with the goal of diversifying its economy and attracting foreign investment, a strategy that the UAE and Oman have relied on for years. Keywords: 0536743DAB; ASIA; BUSINESS; CHINA; CMD; EUROPE; FRX; GOV; ISRAEL; MARKETS; MIDEAST; NORTHAM; NRG; OIL; SAUDI; US; WORLD EN 0536743DAB ASIA BUSINESS CHINA CMD EUROPE FRX GOV ISRAEL MARKETS MIDEAST NORTHAM NRG OIL SAUDI US WORLD Saudi Arabia said it would exclude imports from free zones or linked to Israel from a preferential tariff agreement with neighboring Gulf Arab countries, signaling growing strains in relations with the United Arab Emirates which has normalized relations with the Jewish State. [Extracted from the article]