Saudi Arabia’s imports from the UAE drop by 33% after changes in customs policy

Amman Today

publish date 2021-09-22 21:06:03

The value of Saudi imports from the UAE fell 33% last July, on a monthly basis, due to new rules imposed by the Kingdom two months ago on imports coming to it from the Gulf countries.

According to data issued by the General Authority for Statistics, on Wednesday, Saudi imports from the UAE decreased to 3.07 billion riyals ($817.5 million), compared to 4.56 billion riyals ($1.22 billion) in the previous June.

On an annual basis, imports from the UAE decreased by 6.2 percent, down from 3.27 billion riyals ($871.2 million) in July 2020.

Saudi Arabia has introduced a set of amendments to the preferential customs privileges of the Gulf countries, which were treated as a local product last July.

The Kingdom stipulated that in order for the products of the Gulf countries to enjoy the preferential tariff, they should be accompanied by a valid certificate of origin and be shipped directly from the producing country to the Kingdom.

It stated that the transfer through the free zones is not considered a direct transfer; This means that the free zones in the Gulf states will no longer be considered locally manufactured, and therefore no longer enjoy customs privileges in the Kingdom.

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World News

Source : ألدستور

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