RIYADH: Saudi Arabia’s logistical connectivity is set to receive a boost as three of its government agencies signed an agreement to integrate the Kingdom’s air and sea transport networks amid a push to become a regional hub.
The Saudi Ports Authority, also known as Mawani, the General Authority of Civil Aviation and the Zakat, Tax, and Customs Authority have signed a memorandum of understanding to facilitate smooth movement of goods by sea and air.
The move is aimed at consolidating the Kingdom’s position on the global logistics map, the Saudi Press Agency reported.
The new agreement is also projected to upgrade the Kingdom’s logistics and customs services while elevating the nation’s foreign trade and overall economic development.
Under the terms of the agreement, all parties will work hand in hand to integrate freight operations at air and sea terminals, in addition to leveraging Saudi Arabia’s strategic geographical position.
Together, the three parties will also work on stimulating cargo transportation scenarios to identify and address underlying challenges that hinder the smooth delivery of services in one way or another.
Furthermore, the MoU also seeks to intensify and further encourage partnerships between public sector entities.
This collaboration will be achieved through a framework designed to enable knowledge transfer, fulfill common goals, and synergize efforts to transform the Kingdom into a logistics hub connecting Asia, Africa, and Europe in line with the Saudi Vision 2030.
The MoU was signed at the GACA headquarters in Riyadh in the presence of its President Abdulaziz Al-Duailej and ZATCA Gov. Omar Hariri.
Earlier this month, Mazen Al-Bunyan, the CEO of Standard Chartered in Saudi Arabia, said: “The Kingdom aspires to become the next global logistics hub and has pledged to make its economy more sustainable and innovative.”
Leveraging its strategic location at the center of Asia, Africa and Europe, he said Saudi Arabia is enhancing its shipping networks to connect these regions and is continuously liberalizing international trade of goods and services.
With various initiatives across the logistics, sustainability and innovation fronts, Al-Bunyan said, “Saudi Arabia is poised to lead the Gulf and the Middle East into a new era of trade and economic prosperity.”