Commerce Ministry weighs possibility of free zones

Commerce Ministry weighs possibility of free zones
Updated 18 April 2013
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Commerce Ministry weighs possibility of free zones

Commerce Ministry weighs possibility of free zones

Saudi Arabia is considering the establishment of free zones in order to increase the volume of exports.
This comes at a time when the country is on the verge of establishing a specialized body for Saudi exports.
A senior official said that Modon, the Saudi Industrial Property Authority, is currently working with a specialized company to study the establishment of free zones in the Kingdom, expected to be operational before 2015. Highlighting the ongoing coordination between the Ministry of Commerce and Industry and a number of relevant authorities for the launch of an exports body, Commerce and Industry Minister Tawfiq Al-Rabiah said that a team of qualified specialists was involved in its development.
During a workshop on the development of exports at the Riyadh Chamber of Commerce and Industry, Al-Rabiah said: “This body will be one of the important arms that will contribute to increasing the export of goods and Saudi products to different markets.”
Saleh Al-Rasheed of Modon said: “The climate is ripe for the development of exports.”
He said that Modon has taken many initiatives and established cooperation with several parties to encourage factories to increase exports.
This is done through the development of logistics services to attract shipping companies, increasing storage facilities and making available more transport specialists.