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GCC Leaders to Discuss U.A.E. Currency Union Pullout, Watan Says

The United Arab Emirates’ decision to opt out of a planned Gulf Cooperation Council monetary union will be discussed at the group’s summit this month, Al-Watan reported, citing U.A.E. Economy Minister Sultan al-Mansouri.

The U.A.E., the second-largest Arab economy, pulled out of the planned monetary union of oil-rich states in May 2009. Saudi Arabia, the largest Arab economy, Kuwait, Qatar and Bahrain are still part of the project.

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