- June 30, 2020
- Posted by: Administrator
- Category: Business News
Kingdom is unhappy with certain countries who they claim are not following international agreements
Saudi Arabia is to hit back at countries that are placing restrictions on its exports, with import measures of its own, starting from July 1.
A statement from the General Authority for Foreign Trade said that a number of countries continue to apply “measures, conditions and procedures” contrary to the rules of international agreements.
“Not only that, but they will have negative repercussions on the ability of the competitiveness of the private sector of the Kingdom to enter those markets,” a report by Saudi Press Agency (SPA) said.
The statement said that looking after the commercial interests in the kingdom as a result of the various agreements signed was a number one priority for the authority.
However, it added: “On the other hand, applying such measures will manage to reduce the negative impact on trade exchanges with those countries, enhance the Saudi private sector’s competitiveness, enable the flow of the kingdom’s exports to foreign markets and guarantee obtaining the chance of fair competition of cross flow of goods to those countries.”