SASCO subsidiary starts implementation of TIR agreement with Saudi Customs

03/02/2020 Argaam

 

Saudi Automotive Services Co.’s (SASCO) subsidiary, Saudi Automobile Association (SATA), launched the operations of international road transport carnets (TIR) agreement, effective Feb.3, 2020, the company said in a bourse filing on Monday.

 

In October 2018, SATA signed an agreement with the General Authority of Customs to issue and operate international transport of goods under TIR across the Kingdom, Argaam reported earlier.

 

SATA also noted that the TIR agreement started operations at many of the Kingdom’s customs borders and most of the ports including Al Batha, Al Khafji, Al Reqai, Hadithah, Halat Ammar, Jeddah Islamic, King Abdulaziz in Dammam, Duba, and Riyadh Dry Port.

 

The company said it cannot determine the financial impact of the deal as it depends on the actual sales of TIR carnets.

 

The deal is expected to be reflected in the company’s financials during the second quarter of 2020.

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