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Saudi Customs Seeks to Develop Trade Ties with Iraq

Saudi Customs Seeks to Develop Trade Ties with Iraq

Monday, 25 March, 2019 - 12:30
Riyadh - Fatehelrahman Yousif
Saudi Customs is planning on signing with Bahrain and UAE this year two agreements on mutual recognition to facilitate Saudi export procedures, announced Chairman of the General Customs Authority Ahmed al-Hakbani.

Speaking to Asharq al-Awsat, Hakbani said the Authority is mapping out industrial and investment incentives, in addition to amending procedures on exemptions and restrictions through an initiative to protect the national industry.

He pointed out that the new Arar crossing with Iraq, which is under construction, will be equipped with state-of-the-art technology and meet global standards.

He expected it to become the top global crossing in terms of technology. 

The Chairman stressed Arar's importance in the improvement of trade relations between the two countries, in the development of the border area, and in facilitating procedures for those crossing into both sides.

Hakbani explained that the Customs prepared the plan on restructuring exemptions and customs restrictions, as one of the initiatives to reduce bureaucratic tasks.

He also pointed to the Authority’s efforts in facilitating procedures to support the local industry.

During a meeting with industrialists in the Riyadh Chamber Sunday, Hakbani affirmed that the Authority has prepared a package of incentives and customs exemptions that include the protection of Saudi industry from competition.

Riyadh considers the success of the industrial sector a main element in achieving Vision 2030.

Chairman of the Riyadh Chamber Ajlan al-Ajlan was present at the meeting organized by the chamber’s Industry, Energy and Mineral Resources Committee.

Hakbani pointed out that among other measures, the Authority grants customs exemptions for industrial institutions on raw materials, semi-finished products, machinery, equipment, and spare parts.

This has reduced the number of required documents from nine to two, has cut the time needed to carry out the procedures, and allowed for electronically submitting customs declarations for the required documents before the merchandise leaves the warehouse.

For his part, Ajlan highlighted the importance of the Customs Authority in facilitating export and import procedures, and supporting the Kingdom's industrial sector.

Vice-Chairman of the Industrial Committee of Riyadh’s Chamber Bandar al-Khorayef noted that the committee is working with government agencies to solve the problems and challenges faced by industrialists.

Khorayef pointed out that the cooperation with customs aims to serve both importers and exporters, and bring the country's industrial development forward.

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