GACA preparing Saudi Arabia as a global logistics center

GACA President Abdul Hakim Al-Tamimi speaks during a roundtable meeting with major UK civil aviation companies on Thursday. (SPA)
Updated 06 September 2018

GACA preparing Saudi Arabia as a global logistics center

JEDDAH: The General Authority of Civil Aviation (GACA), in cooperation with the Saudi-American Business Council, organized a roundtable meeting with major UK civil aviation companies. 

The meeting discussed the Saudi aviation sector and possible investment opportunities in it. Representatives of relevant departments at GACA met with more than 60 representatives of Saudi and British companies.

GACA President Abdul Hakim Al-Tamimi delivered a speech in which he reviewed investment opportunities in the Saudi aviation sector in light of a rise in air traffic and the number of infrastructure projects being implemented.

A wide variety of investment opportunities regarding airport operation and the provision of advanced consultancy services was discussed.

He stressed GACA’s eagerness to strengthen the Saudi civil aviation industry and harness the required capabilities to keep pace with steady growth in air transport in the Kingdom, so as to attract international companies to invest in airport infrastructure and services. 

GACA is striving to make the Kingdom a global logistics center linking three continents and receiving more than 30 million pilgrims by 2030, Al-Tamimi said.

During the meeting, companies were briefed on the development of the investment environment in the Kingdom, and on investment opportunities in the aviation sector. 

France ready to take Trump’s tariff threat to WTO

Updated 3 min 13 sec ago

France ready to take Trump’s tariff threat to WTO

  • Macron government will discuss a global digital tax with Washington at the OECD, says finance minister

PARIS: France is ready to go to the World Trade Organization to challenge US President Donald Trump’s threat to put tariffs on French goods in a row over a French tax on internet companies, its finance minister said on Sunday.

“We are ready to take this to an international court, notably the WTO, because the national tax on digital companies touches US companies in the same way as EU or French companies or Chinese. It is not discriminatory,” Finance Minister Bruno Le Maire told France 3 television. Paris has long complained about US digital companies not paying enough tax on revenues earned in France.

In July, the French government decided to apply a 3 percent levy on revenue from digital services earned in France by firms with more than €25 million in French revenue and €750 million ($845 million) worldwide. It is due to kick in retroactively from the start of 2019.

Washington is threatening to retaliate with heavy duties on imports of French cheeses and luxury handbags, but France and the EU say they are ready to retaliate in turn if Trump carries out the threat. Le Maire said France was willing to discuss a global digital tax with the US at the Organization for Economic Cooperation and Development (OECD), but that such a tax could not be optional for internet companies.

“If there is agreement at the OECD, all the better, then we will finally have a global digital tax. If there is no agreement at OECD level, we will restart talks at EU level,” Le Maire said.

He added that new EU Commissioner for Economy Paolo Gentiloni had already proposed to restart such talks.

France pushed ahead with its digital tax after EU member states, under the previous executive European Commission, failed to agree on a levy valid across the bloc after opposition from Ireland, Denmark, Sweden and Finland.

The new European Commission assumed office on Dec. 1.