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Thursday, 24th March 2005 (4395 views)

A new survey in the Middle East has called for a reduction of the customs duty on imports of gold from 12 per cent to five per cent.<br/><br/>It is thought the duty is encouraging gold businesses to move to neighbouring states, according to MENAFN.<br/><br/>According to the Saudi Economic Survey the duty reduction would help support local gold factories and related businesses.<br/><br/>In addition it would mean the companies would be able to compete more effectively.<br/><br/>Businessman in the gold trade believe the move would reduce a lot of issues in the industry.<br/><br/>Saudi Arabia is now seen as a leading country in the gold industry in the Middle East and it consumes the most gold in the Arab world.<img alt="track" src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=8106698"/>

 

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