Commercial Processing System On International Trade Enhances National Product Competitiveness

Riyadh, (UrduPoint / Pakistan Point News - 26th Nov, 2022 ) :Minister of Commerce, Chairman of the board of Directors of the General Authority for Foreign Trade Dr. Majid Bin Abdullah Al-Qasabi, has affirmed that the Cabinet's approval related to commercial processing system on international trade reflects the keenness of the wise leadership to set systems and legislation.

Moreover, he said the system help to enhance the competitiveness of national products, attract investments and create new industries, which increases job opportunities and contributes to achieving the goals of the Kingdom 's Vision 2030.

Al-Qasabi indicated that the system aims to protect the local industry in the Kingdom from damage resulting from dumped and subsidized imports, and to prevent damage resulting from the surge in imports by imposing measures against these imports at the Kingdom's customs borders and to maintain the Kingdom's exports that are subject to commercial processing procedures.