Published 24 Jun,2020 via Asharq Alawsat (English Edition) - Saudi Arabia will apply the principle of reciprocity to imports from countries that impose restrictions on the Kingdom’s exports as of July, said the General Authority for Foreign Trade (GAFT).
The Kingdom has decided to enforce the principle of reciprocal treatment, as of Wednesday, July 01, 2020, in addition to a number of procedures and measures on imports from countries applying measures or procedures or restrictions on the Kingdom’s exports, as they are not compatible with their commitments to relevant international agreements.
In a statement, the authority said that, as part of its continuous follow-up to the flow of the Saudi exports to foreign markets, it found that a number of countries continue to apply a number of measures, conditions and procedures contrary to the provisions and rules of economic and trade international agreements, noting that such measures and procedures don’t achieve fair competitiveness of cross trade with those countries.
It also said these measures have negative repercussions on the ability of the competitiveness of the private sector of the Kingdom to enter those markets.
GAFT's statement added that observing the Kingdom’s commercial interests and preserving its gains from its membership in such agreements and organizations is of top priority to achieve sustainable economic development.
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