The General Authority for Foreign Trade has announced that the Kingdom of Saudi Arabia will apply a number of procedures and measures on its imports from foreign countries that apply measures, procedures or restrictions on the Kingdom's exports to them, since such foreign countries’ procedures are not compatible with their obligations towards the International Agreements. Therefore, the Kingdom will apply the principle of reciprocity and in accordance with its implementation mechanisms in this regard, starting on Wednesday 10 Dhu al-Qi'dah 1441 AH corresponding to 1 July 2020 AD.
The General Authority for Foreign Trade said in a statement that through its continuous follow-up of the access of the Kingdom’s exports to foreign markets, it has been noticed that a number of countries continued to apply measures, conditions and procedures that do not comply with the articles and provisions of World Trade & Economic Agreements, as the foreign countries’ measures and procedures do not fulfill fair and equal competition, as far as the intra-regional trade is concerned. Notably, these procedures and restrictions have negative impacts on enabling the competitiveness of the private sector in the Kingdom to access these markets.
The General Authority for Foreign Trade would like to emphasize that preserving the Kingdom's commercial interests and gains from its membership in such World Agreements and Global Organizations is a priority for achieving sustainable economic development. Meanwhile, the Kingdom’s trend to implement such measures would reduce the negative impact on trade exchange with those countries, and enhance the competitiveness of the private sector, besides enabling the access of the Kingdom's exports to the foreign markets, also having fair competitive opportunities for intra-regional trade.
It is worth mentioning that among the tasks and functions of the General Authority for Foreign Trade is to enable and enhance the private sector to participate and benefit from foreign trade, as well as to reduce the obstacles facing the Saudi exporters abroad, also to ensure compliance with the World Trade Agreements.