Saudi Arabia to apply reciprocity principle to imports as of July 1

21/06/2020 Argaam

 

Saudi Arabia will apply the principle of reciprocity to imports from countries that impose restrictions on the Kingdom’s exports, as of Wednesday, July 1, the Saudi Press Agency reported, citing a statement of the General Authority for Foreign Trade (GAFT).

 

Some countries are applying certain procedures, which do not comply with international trade and economic agreements.

 

These procedures do not ensure fair competition and will negatively impact the competitiveness of the Saudi private sector, GAFT explained.

 

The decision of the Kingdom is aimed at mitigating the negative impact on trade exchange with these countries, enhancing the private sector competitiveness, and ensuring the penetration of the Kingdom’s exports.

 

No further details were announced about the Kingdom’s planned procedures, the imports or the countries included in the decision, GAFT added.

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