Saudi Arabia Amends Import Licenses for Fruits, Vegetables

Saudi Arabia amend import licenses to ensure the sustainability of local production of fresh vegetables and fruits (Asharq Al-Awsat)
Saudi Arabia amend import licenses to ensure the sustainability of local production of fresh vegetables and fruits (Asharq Al-Awsat)
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Saudi Arabia Amends Import Licenses for Fruits, Vegetables

Saudi Arabia amend import licenses to ensure the sustainability of local production of fresh vegetables and fruits (Asharq Al-Awsat)
Saudi Arabia amend import licenses to ensure the sustainability of local production of fresh vegetables and fruits (Asharq Al-Awsat)

Saudi Arabia has amended its import licensing guide by adding fresh fruits and vegetables so that the Ministry of Environment, Water, and Agriculture will be the competent authority to issue these licenses, Asharq Al-Awsat learned.

Minister of Commerce Majid al-Qasabi issued a ministerial decision to add fresh fruits and vegetables to the import licensing directory, specifying the requirements, notably that the importer, whether a Saudi or a foreign investor, must be authorized.

The Ministry announced the amendment of the import licenses guide for the public via the Public Consultation Platform (Istitlaa).

It indicated that based on Paragraph (A) of Item (Third) of the Import Licenses Guide, issued by the decision of the Minister of Commerce, which resulted in amending the Import Licenses Guide by adding paragraph No. (6) to Paragraph (E) of Clause Fourth, “regulating the requirements for licenses to import fresh vegetables and fruits into the Kingdom.”

The new requirements on imported goods seek to protect humans and plants, using the international standards of the International Plant Protection Convention, which requires the monitoring of the market and collecting trade statistics.

It was essential to organize and control vegetables and fruits imported to Saudi Arabia, which led to the development of procedures to keep pace with the changes.

The Ministry of Environment, Water, and Agriculture has set controls for importing vegetables and fruits from outside the Kingdom to protect plants, support and sustain local production, and control the quality to enhance food security.

The import permit must be issued electronically within a period not exceeding three working days from the date of submitting the application, after including a copy of the commercial register or foreign investment license and specifying the imported items and quantities, import date, and the country of origin.

Under the Foreign Investment Law, the importer must be a legal Saudi licensed to practice the activity or a foreign investor licensed to practice the activity.

The importers are divided into two categories. Category (A) grants a renewable ten-year license, provided that he proves real estate ownership of the warehouses and refrigerators where shipments will be stored or commercial centers to promote the products. He must also offer ownership proof of refrigerated vehicles.

Category (B) receives a three-year license, subject to renewal. The e-permits must specify the imported items and quantities, the date of import, the country of export, the license number and date, the point of entry, the net weight and type of the shipment, and the validity period of the import permit, provided that it doesn’t exceed 60 days from the issuance date.

The Ministry and the Food and Drug General Authority can take samples from the shipment for testing in approved laboratories inside or outside the Kingdom.

The shipment must be entered through the entry point specified in the import permit.

The importer is not granted permission if he has not previously obtained an import license issued by the agent, and the permit can be extended for three days after the original period has expired.

The import permit is revoked in the event of a pandemic outbreak in the export country before launching the shipment.



OPEC Secretary General: Oil Demand to Remain Robust, No Change to Estimates

OPEC Secretary General Haitham Al Ghais attends the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg on June 4, 2026. (Photo by Olga MALTSEVA / AFP)
OPEC Secretary General Haitham Al Ghais attends the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg on June 4, 2026. (Photo by Olga MALTSEVA / AFP)
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OPEC Secretary General: Oil Demand to Remain Robust, No Change to Estimates

OPEC Secretary General Haitham Al Ghais attends the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg on June 4, 2026. (Photo by Olga MALTSEVA / AFP)
OPEC Secretary General Haitham Al Ghais attends the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg on June 4, 2026. (Photo by Olga MALTSEVA / AFP)

OPEC expects robust oil demand growth and is not changing its estimates, Secretary General Haitham Al Ghais said on Thursday at the St. Petersburg International Economic Forum, despite the Middle East conflict and closure of the ⁠Strait of Hormuz.

"Despite ⁠all the commentary out there that oil demand is declining, we have not registered signs of that yet," ⁠Reuters quoted Al Ghais as saying.

"We still see robust demand growth at 1.2 million barrels a day for this year," he said.

He also said that investments in the oil industry should not be affected by "one-off events" that happen ⁠anywhere ⁠in the world.

"We need to invest well ahead of time to be prepared for the demand that we see in the future," he said.


Egypt Plans to List More State-owned Companies, Replace In-kind Subsidies with Cash

Headquarters of the Central Bank of Egypt in downtown Cairo (Asharq Al-Awsat)
Headquarters of the Central Bank of Egypt in downtown Cairo (Asharq Al-Awsat)
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Egypt Plans to List More State-owned Companies, Replace In-kind Subsidies with Cash

Headquarters of the Central Bank of Egypt in downtown Cairo (Asharq Al-Awsat)
Headquarters of the Central Bank of Egypt in downtown Cairo (Asharq Al-Awsat)

Egypt aims to list four to five state-owned companies on the Cairo stock exchange before the end of the year as part of its state asset sales strategy, Prime Minister Mostafa Madbouly said on Thursday.

The government also plans to shift from in-kind subsidies to cash subsidies during the coming financial year, as part of efforts to improve the targeting of social support, Madbouly said at a press conference, Reuters reported.

It does not aim to reduce the monetary value of subsidies but rather ensure they reach those entitled to receive them, he added.

More than 60 million people receive subsidised essential commodities through state-run outlets, while at least 10 million others benefit from subsidised bread.


St. Petersburg Forum Brings Together Energy Leaders to Discuss Hormuz Security, Future of Global Markets

Venue of the St. Petersburg International Economic Forum (the Forum)
Venue of the St. Petersburg International Economic Forum (the Forum)
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St. Petersburg Forum Brings Together Energy Leaders to Discuss Hormuz Security, Future of Global Markets

Venue of the St. Petersburg International Economic Forum (the Forum)
Venue of the St. Petersburg International Economic Forum (the Forum)

Global energy markets will turn their attention on Friday to the St. Petersburg International Economic Forum, where a high-level panel discussion titled “Global Energy Systems: How Is the World’s Energy Sector Responding to Challenges and Risks?” will take place.

The 29th edition of the forum, being held this year under the theme “Shared Values: The Foundation of Growth in a Multipolar World,” opened on Wednesday. Saudi Arabia is participating as the forum’s principal guest of honor as the two countries mark 100 years of diplomatic relations.

Saudi government entities, national institutions and leading companies are taking part in the forum, including the ministries of energy, industry, transport, environment and investment, with the aim of strengthening cooperation and showcasing the goals and achievements of Vision 2030 in economic diversification and attracting high-quality investment.

The St. Petersburg International Economic Forum, established in 1997, is Russia’s leading economic conference and attracts more than 10,000 participants annually.

The energy session carries exceptional significance given its timing, coming after five months of escalating disruptions to supply routes and rising oil prices. It also falls within the main theme of the forum’s 2026 edition, “The Global Economy: Between Confrontation and Cooperation.”

The session will bring together senior decision-makers from across the global energy industry, led by Saudi Energy Minister Prince Abdulaziz bin Salman, Secretary General of the Organization of the Petroleum Exporting Countries (OPEC) Haitham Al Ghais, Russian Deputy Prime Minister Alexander Novak, and Chief Executive Officer of the Russian Direct Investment Fund Kirill Dmitriev. Also participating are Egyptian Petroleum Minister Karim Badawi, Serbian Energy Minister Dubravka Djedovic, and Secretary General of the Gas Exporting Countries Forum Philip Mshelbila.

According to the session agenda, discussions will focus on a series of strategic questions arising from the new reality facing global energy markets. Foremost among them is the impact of the current Middle East conflict on global oil and gas markets, and what current and future measures could reduce reliance on transporting energy resources through the Strait of Hormuz amid security tensions that have caused tangible shifts in traditional maritime shipping routes.

The session will also examine the strategy that major oil and gas producers should adopt under these circumstances and how the economic impact of OPEC+ measures should be assessed.

Participants will discuss the strategies that major oil and gas producers should pursue amid a complex environment shaped by six years of overlapping crises, beginning with the COVID-19 pandemic, continuing through Western sanctions imposed on Moscow, and extending to current military conflicts and their direct impact on international trade and the global economy. Discussions will also include an assessment of the economic impact of OPEC+ decisions and consideration of the alliance’s future plans.

The strategic dialogue comes ahead of a crucial oil-policy marathon on Sunday, when a series of meetings will begin with the OPEC’s conference, followed by the 66th meeting of the Joint Ministerial Monitoring Committee, which oversees compliance levels, coordination and current compensation plans for countries that previously exceeded their production quotas. The 41st ministerial meeting of OPEC and OPEC+ will also be held.

Sources familiar with the oil sector said OPEC+ is likely to approve an additional gradual increase in its production targets for July, in a move aimed at demonstrating the group’s ability to return to a “normal production path.”

The alliance has already increased production quotas by about 600,000 barrels per day between April and June.