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.



Türkiye Receives Waiver for Gas Payments to Russia from Gazprombank Sanctions

A view shows a board with the logo of Gazprombank at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 5, 2024. REUTERS/Anton Vaganov/File Photo
A view shows a board with the logo of Gazprombank at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 5, 2024. REUTERS/Anton Vaganov/File Photo
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Türkiye Receives Waiver for Gas Payments to Russia from Gazprombank Sanctions

A view shows a board with the logo of Gazprombank at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 5, 2024. REUTERS/Anton Vaganov/File Photo
A view shows a board with the logo of Gazprombank at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 5, 2024. REUTERS/Anton Vaganov/File Photo

Türkiye has received an exemption for gas payments to Russia after the United States imposed sanctions on Gazprombank, Turkish Energy Minister Alparslan Bayraktar revealed in response to a question from Reuters.

The US imposed new sanctions on Russia's Gazprombank in November, creating an obstacle for buyers of Russian gas, which had been using the bank to make payments. They have since been seeking clarification and exploring other ways to pay.

Türkiye imports almost all its gas requirement and Russia is the top supplier, providing more than 50% of the country's pipeline imports.

Ankara's pipeline gas imports from Russia stood at 21.1 bcm last year.

Türkiye had requested an exemption in discussions with US officials so that it can continue paying for Russian natural gas imports via Gazprombank.

The US on Thursday also granted a waiver to Hungary, which mainly relies on Russian oil and gas.