Technology industry set to support GCC in customs transition period
The Gulf Cooperation Council’s (GCC) Customs Union will drive new growth in the region's technology markets and create significant new opportunities for Foreign Direct Investment (FDI) and local technology sector growth, according to Tech Data managing director Steve Lockie.
“As a single customs union market, the GCC consolidates six former country markets into a trading block that has real economic muscle,” said Lockie. “For us in the technology industry, that means a clearer and more compelling regional opportunity and therefore increases the potential for investment in the region.”
Tech Data, which represents over 20 IT multinationals active in the Middle East region, has already launched initiatives in support of computer product resellers in the region as they manage the transition to the new customs union. The company has now also confirmed that it is prepared to expose its records and databases to allow the GCC authorities to have access to full lists of computer and technology products as well as their ‘official' list prices. — (menareport.com)
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