RIYADH: The Saudi Zakat, Tax and Customs Authority signed a memorandum of understanding with the Korea Customs Service regarding mutual recognition of an economic operator program approved by the two countries.
The MoU was signed in the presence of Suhail bin Mohammed Abanmi, the authority’s governor, and Ko Kwang-hyo, Korea Customs Service commissioner.
In a post on social media platform X, the Saudi authority explained that the memorandum aims to enhance the security of the supply chain and facilitate trade by exchanging privileges provided to economic operators accredited by customs authorities in both countries.
This contributes to accelerating the clearance of goods at customs ports, enhancing trade exchange and supporting the economies of the two countries, it added.
The memorandum was signed in one of a series of meetings between the Korean customs delegation and the Saudi authority, during which common customs issues and ways to enhance cooperation were discussed.
