The General Authority for Foreign Trade said that, based on the principle of reciprocal treatment, the Kingdom of Saudi Arabia has decided to enforce, as of Wednesday, July 01, 2020, a number of procedures and measures on its imports from countries applying measures or procedures or restrictions on the Kingdom’s exports to those countries as they are not compatible with their commitments to relevant international agreements.
In a statement, the authority said that, as part of its continuous follow-up to the flow of the exports of the Kingdom of Saudi Arabia to foreign markets, it noted that a number of countries continue to apply a number of measures, conditions and procedures contrary to the provisions and rules of economic and trade international agreements as such measures and procedures don’t achieve fair competitiveness of cross trade with those countries. Not only that, but they will have negative repercussions on the ability of the competitiveness of the private sector of the Kingdom to enter those markets.
The statement added that observing the Kingdom’s commercial interests and preserving its gains from its membership in such agreements and organizations is of top priority to achieve sustainable economic development. On the other hand, applying such measures will manage to reduce the negative impact on trade exchanges with those countries, enhance the Saudi private sector’s competitiveness, enable the flow of the Kingdom’s exports to foreign markets and guarantee obtaining the chance of fair competition of cross flow of goods to those countries.
Last Modified Date: 22/06/2020 - 6:36 AM Saudi Arabia Time