https://arab.news/5ngc8
RIYADH: Saudi exporters received a boost with the issuance of some 37,553 certificates of origin in January by the Ministry of Industry and Mineral Resources, enhancing trade opportunities across sectors.
The figure shows an increase of nearly 13.8 percent compared to February 2023, a month after the ministry launched the program.
This initiative is part of the Kingdom’s goal under the Vision 2030 economic transformation plan to increase the share of non-oil exports to Saudi Arabia’s gross domestic product from 16 percent to 50 percent by the decade’s end.
Until the end of June 2023, local exporters and manufacturers received some 203,932 of these documents. The ministry also processed 38,988 certificates of origin in October 2023 compared to 34,745 recorded in September of the same year.
According to the Saudi Press Agency, the recently issued credentials included industrial, commercial, and individual establishment, adding that a certificate of origin indicates that products exported abroad are of national origin or have acquired national origin status.
SPA added that the service also targets farmers, fishermen, individuals engaged in independent activities, local artisans, and more.
These certificates support the national industries by offering preferential tariffs under free trade agreements and complying with customs regulations in importing countries.
The news agency pointed out that the document includes four distinct modes: one for national products intended for the Gulf Cooperation Council countries, another for Arab nations, a preferential origin certificate, and a bilingual version for countries that do not grant preferential treatment.
It is worth mentioning that the Ministry of Industry started issuing these documents following the Cabinet’s decision to transfer the issuance of these COs for all national products from the Ministry of Commerce to the Ministry of Industry.
The certificate of origin service also offers an electronic platform that enables businesses to avail themselves of the certification without the need to visit the ministry to save time and effort.
A certificate of origin is a document extensively utilized in international trade to confirm that the listed product has satisfied specific requirements to be recognized as originating from a particular country.