Saudi Chambers Federation Asks Companies to Benefit from Temporary Admission System for Goods

The King Abdullah Economic City Port in Saudi Arabia. (Asharq Al-Awsat)
The King Abdullah Economic City Port in Saudi Arabia. (Asharq Al-Awsat)
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Saudi Chambers Federation Asks Companies to Benefit from Temporary Admission System for Goods

The King Abdullah Economic City Port in Saudi Arabia. (Asharq Al-Awsat)
The King Abdullah Economic City Port in Saudi Arabia. (Asharq Al-Awsat)

The Saudi Chambers Federation is making rapid efforts to ensure that all local companies and institutions can benefit from this international customs system after Saudi Arabia issued its first ATA Carnet (Temporary Admission Document) last week.

The ATA Carnet is an international customs document issued by an authorized chamber of commerce. It simplifies customs procedures for the temporary admission of various types of goods into countries that are part of the international ATA Carnet guarantee chain, without restrictions, duties, or taxes.

According to information available to Asharq Al-Awsat, the Saudi Chambers Federation has informed all companies and institutions that the federation’s ATA Carnet unit will now be accepting service requests from interested parties.

This step follows the federation's acceptance as an issuing and guaranteeing body for the ATA Carnet, granting carnet holders exemption from customs duties and taxes in member countries’ customs checkpoints.

On Thursday, the Saudi Chambers Federation announced the issuance of the first ATA Carnet since the system was officially implemented. Saudi Arabia has now become the 80th country globally to adopt this international customs system.

In June, the Saudi Zakat, Tax, and Customs Authority announced that it would start accepting ATA Carnets across all its land, sea, and air customs points. The move is part of the Kingdom’s commitment to the Istanbul Convention, which supports the business sector and bolsters Saudi Arabia’s position as a global destination for events, exhibitions, and activities.

The authority added that accepting the ATA Carnet is a positive step toward enabling the growth of the international events, exhibitions, and conferences sector. It also supports efforts to attract global exhibitions and conferences while adhering to international best practices and boosting the country’s status as a global destination for economic, tourism, and entertainment events.

The goods eligible for temporary import under the ATA Carnet include items intended for display or use at exhibitions, markets, meetings, or similar events, professional equipment, containers, pallets, packing materials, samples, and other goods related to commercial processes. It also applies to goods imported for educational, scientific, or cultural purposes.



Saudi Industry Minister Discusses Opportunities to Develop Aviation, Space Industry in the Kingdom

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef visits the JetZero and SpaceX companies during his visit to the US. (SPA)
Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef visits the JetZero and SpaceX companies during his visit to the US. (SPA)
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Saudi Industry Minister Discusses Opportunities to Develop Aviation, Space Industry in the Kingdom

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef visits the JetZero and SpaceX companies during his visit to the US. (SPA)
Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef visits the JetZero and SpaceX companies during his visit to the US. (SPA)

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef visited JetZero, a company specializing in aviation, and SpaceX, the aerospace giant, in California, reported the Saudi Press Agency on Sunday.

He discussed boosting opportunities for cooperation in the aviation and space industries in the Kingdom.

Alkhorayef met with JetZero founder and CTO Mark Page to discuss potential partnerships in the aviation sector, the development of local supply chains for aviation components, and the utilization of Saudi Arabia's mineral resources.

These efforts aim to boost local manufacturing capabilities, particularly in the aviation sector, which is one of the key industries targeted by Saudi Arabia’s National Industrial Strategy.

JetZero, founded in 2018 in Long Beach, California, is a startup in the aviation industry. Its primary mission is to develop aircraft with an innovative "Blended Wing Body" design that aims to achieve high fuel efficiency and significantly reduce emissions.

The company focuses on becoming a leader in sustainable aviation by designing aircraft that consume up to 50% less fuel compared to conventional planes, thereby reducing aviation's carbon footprint.

Alkhorayef also met with SpaceX CFO Brett Johnson to discuss opportunities for developing the space industry and supporting efforts to bolster supply chain development. Discussions also emphasized the services and incentives offered by the Kingdom's industry and mineral resources ecosystem for such partnerships and strategic programs.

Founded by Elon Musk in 2002, SpaceX is a leading US company in the aviation and space sectors. The company's ambitious vision is to enable human exploration of Mars by developing groundbreaking rocket and spacecraft technologies.

The National Industrial Strategy outlines a promising future for the Kingdom's aviation and space sectors, aiming to launch the first Saudi satellite and focusing on the adoption of cutting-edge technologies such as artificial intelligence and drones. This strategy will strengthen the competitiveness of the national industry and position Saudi Arabia among the world's leading countries in these fields.

Alkhorayef’s visit is part of ongoing efforts to foster industrial and mining cooperation, strengthen ties between Saudi Arabia and the US and attract high-quality investments to the Kingdom.