Saudi Arabia approves duty-free markets at air, land and sea ports

Agencies | Riyadh

The Daily Tribune – www.newsofbahrain.com

Saudi Arabia has opened a new trade path, the Saudi Press Agency reported on Tuesday. In a weekly Cabinet meeting chaired by King Salman, the Saudi Cabinet approved the establishment of duty-free markets at air, sea and land ports. This decision will permit sale, in these markets, to passengers arriving and departing from the Kingdom.

The decision comes after the introduction of the Zakat, Tax and Customs Authority (ZATCA) last year, which asserted that goods moved from free zones and duty-free markets to the customs department shall be treated as foreign goods – even if they include local raw materials or items for which customs duties were paid before entering the free zones and duty-free markets.

During the meeting, ministers reviewed talks between Saudi officials and their counterparts from a number of different countries, with the aim of advancing relations and increasing the effectiveness of collective action through regional and international organisations and groups.

Furthermore, the Cabinet addressed the Kingdom's participation in the ministerial meetings of the G20, held in Bali, Indonesia, to accelerate digital economic growth, technology and innovation, and to bridge the digital gap through strategic initiatives and projects linking the world.

The meeting also approved between an agreement between with Ghana in the field of air transport services.