Exports boost as SEDA registers more national firms

Updated 19 September 2015
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Exports boost as SEDA registers more national firms

RIYADH: The Saudi Exports Development Authority (SEDA) has registered more than 1,350 national firms during the first half of 2015, SPA reports.
The authority has also updated its assessment procedure for exporting companies and their readiness to offer services for national establishments and factories.
SEDA has so far carried out the assessment procedure for 177 national establishments to certify their export readiness via the authority's website: Saudi exports.sa.
During its review of the work for the first half of 2015, SEDA explained that the beginning of the year marked the actual launch of its activities and events related to the development of Saudi Arabia's globally competitive nonoil exports.
This was done by stimulating and encouraging the national companies to export and through their business growth strengthen their presence in international markets.
Meanwhile, the SEDA revealed that in cooperation with the exporters, it managed to identify 51 procedural hurdles faced by them; however, its strategic partnership with the relevant government agencies helped in removing 25 of them.
The authority is currently working to remove the remaining problems, studying the current status of the environment and export procedures applicable in the Kingdom and comparing them with global practices applicable in some neighboring countries.
SEDA highlighted that organizing trade missions is one of the most important services provided by the authority in the list of services to promote the access of national products to international markets.
In this context, SEDA facilitated a number of agreements and organized the Saudi Business Forum in Kazakhstan-Azerbaijan, in which more than 85 Saudi businessmen participated.


US poised to end waivers for 5 countries importing Iranian oil

Updated 22 April 2019
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US poised to end waivers for 5 countries importing Iranian oil

  • Japan, South Korea, Turkey, China and India were exempted from sanctions until May 2
  • Since November, Italy, Greece and Taiwan have stopped importing oil from Iran

WASHINGTON: The Trump administration is poised to tell five nations, including allies Japan, South Korea and Turkey, that they will no longer be exempt from US sanctions if they continue to import oil from Iran, officials said Sunday.
Secretary of State Mike Pompeo plans to announce on Monday that the administration will not renew sanctions waivers for the five countries when they expire on May 2, three US officials said. The others are China and India.
It was not immediately clear if any of the five would be given additional time to wind down their purchases or if they would be subject to US sanctions on May 3 if they do not immediately halt imports of Iranian oil.
The officials were not authorized to discuss the matter publicly and spoke on condition of anonymity ahead of Pompeo’s announcement.
The decision not to extend the waivers, which was first reported by The Washington Post, was finalized on Friday by President Donald Trump, according to the officials. They said it is intended to further ramp up pressure on Iran by strangling the revenue it gets from oil exports.
The administration granted eight oil sanctions waivers when it re-imposed sanctions on Iran after Trump pulled the US out of the landmark 2015 nuclear deal. They were granted in part to give those countries more time to find alternate energy sources but also to prevent a shock to global oil markets from the sudden removal of Iranian crude.
US officials now say they do not expect any significant reduction in the supply of oil given production increases by other countries, including the US itself and Saudi Arabia.
Since November, three of the eight — Italy, Greece and Taiwan — have stopped importing oil from Iran. The other five, however, have not, and have lobbied for their waivers to be extended.
NATO ally Turkey has made perhaps the most public case for an extension, with senior officials telling their US counterparts that Iranian oil is critical to meeting their country’s energy needs. They have also made the case that as a neighbor of Iran, Turkey cannot be expected to completely close its economy to Iranian goods.