Latest news with #GeneralAuthorityofForeignTrade
Leaders
a day ago
- Business
- Leaders
Saudi Arabia Leads 2nd Round of GCC-Japan Free Trade Agreement Negotiations in Tokyo
The General Authority of Foreign Trade, represented by Deputy Governor for International Organizations and Agreements Fareed Al-Asaly, is leading Saudi Arabia's delegation in the second round of negotiations for the Free Trade Agreement between the Gulf Cooperation Council (GCC) and Japan. The talks are taking place in Tokyo from June 30 to July 4. The Saudi negotiating team is responsible for overseeing the discussions, ensuring they align with the Kingdom's trade policies and strategic goals. The team also plays a direct role in shaping and presenting Saudi Arabia's positions during the negotiations. In 2024, trade between Saudi Arabia and Japan reached approximately $36 billion. Saudi exports—primarily mineral and organic chemical products—accounted for about $28 billion. Imports from Japan, valued at around $8 billion, were mainly composed of vehicles, machinery, and mechanical appliances. The General Authority of Foreign Trade continues to work toward strengthening Saudi Arabia's global trade presence, maximizing economic benefits, and enhancing its active role in international organizations in pursuit of shared growth and sustainable development. Related Topics : GAFT Leads Saudi Team at GCC-Turkey Free Trade Negotiations Saudi Arabia Participates in First Round of GCC-Japan FTA Talks Finance Minister Leads Delegation at 122nd GCC Financial, Economic Cooperation Meeting GCC, Indonesia Sign Joint Statement ahead of Free Trade Agreement Negotiations Short link : Post Views: 6 Related Stories
Saudi Gazette
a day ago
- Business
- Saudi Gazette
Foreign Trade Authority leads Saudi negotiating team in second round of GCC-Japan FTA Talks
Saudi Gazette report ALULA — The General Authority of Foreign Trade, represented by Deputy Governor for International Organizations and Agreements and Head of the Saudi Negotiating Team Fareed Al-Asaly, is heading Saudi Arabia's delegation in the second round of negotiations for the Free Trade Agreement between the Gulf Cooperation Council (GCC) and Japan, being held in Tokyo from June 30 to July 4. The negotiating team is tasked with overseeing and monitoring the progress of the trade negotiations to ensure alignment with the Kingdom's trade policies and goals. It also participates directly in incorporating Saudi negotiating positions. In 2024, the trade volume between Saudi Arabia and Japan reached around $36 billion. Saudi exports were led by mineral products and organic chemical products, while imports from Japan were dominated by vehicles and their parts, along with machinery and mechanical appliances and their parts. Saudi exports amounted to around $28 billion, while imports totaled around $8 billion. The General Authority of Foreign Trade seeks to enhance the Kingdom's international trade gains, global presence, and active participation in various international organizations to ensure the achievement of shared goals and sustainable development.
India.com
2 days ago
- Business
- India.com
Bad news for two Asian countries as Saudi Arabia imposes final anti-dumping duties on imports of..., not India, Pakistan
New Delhi: Dr. Majed Al-Qasabi, the Saudi Minister of Commerce and Chairman of the Board of Directors of the General Authority of Foreign Trade (GAFT), has issued an order to impose final anti-dumping duties on imports of longitudinally welded circular cross-section pipes of stainless steel, originating or exported from China and Taiwan. What does the decision say? The news about the decision to impose the final duties was published in Umm Al-Qura newspaper, the official gazette, on June 29. It further says that the final duties will be applied to imports of this product for a period of five years starting Monday, June 30, 2025. The minister also directed the Zakat, Tax, and Customs Authority to impose and collect final anti-dumping duties on the product in question at rates ranging from 6.5 percent to 27.3 percent, according to the table included in this decision that contains details of the duties. What is the aim of this decision? The decision to levy the final anti-dumping duties has come in agreement with the Law of Trade Remedies in International Trade, which aims to protect the local industry from unfair trade practices in the Saudi market. Moreover, this decision is based on the final results of an investigation that was initiated on May 2, 2024, following a complaint filed by the local industry, in accordance with the regulations of the Law of Trade Remedies in International Trade. The objective of the law is to protect the domestic industry from the damage caused by dumped and subsidized imports, prevent a surge in imports, and protect the Kingdom's exports that are subject to trade-remedy measures.
Saudi Gazette
3 days ago
- Business
- Saudi Gazette
Saudi Arabia imposes final anti-dumping duties on imports of steel pipes from China and Taiwan
Saudi Gazette report RIYADH — Saudi Minister of Commerce and Chairman of the Board of Directors of the General Authority of Foreign Trade (GAFT) Dr. Majed Al-Qasabi issued a decision to impose final anti-dumping duties on imports of longitudinally welded circular cross-section pipes of stainless steel, originating or exported from China and Taiwan. The decision to impose the final duties was published in Umm Al-Qura newspaper, the official gazette, on June 29. The final duties will be applied to imports of this product for a period of five years starting June 30, 2025. The minister also directed the Zakat, Tax, and Customs Authority to impose and collect final anti-dumping duties on the product in question at rates ranging from 6.5 percent to 27.3 percent, according to the table included in this decision that contains details of the duties. The decision to impose the final anti-dumping duties comes in accordance with the Law of Trade Remedies in International Trade, which aims to protect the local industry from unfair trade practices in the Saudi market. This decision is based on the final results of an investigation that began on May 2, 2024, following a complaint filed by the local industry, in accordance with the regulations of the Law of Trade Remedies in International Trade. The objective of the law is to protect the domestic industry from the damage caused by dumped and subsidized imports, prevent a surge in imports, and protect the Kingdom's exports that are subject to trade-remedy measures.
Zawya
27-02-2025
- Business
- Zawya
Saudi Arabia and Greece agree to boost trade and investment
RIYADH — The Saudi Hellenic Round Table Meeting, held in Riyadh on Wednesday, agreed to bolster the commercial and investment partnership between Saudi Arabia and Greece. The meeting explored investment opportunities in the construction sector within the Kingdom. The discussions addressed overcoming common challenges and fostering cooperation in trade and investment, thereby strengthening economic relations between the two countries. Minister of Commerce and General Authority of Foreign Trade Chairman Majed Al-Qasabi and Greek Deputy Minister of Foreign Affairs for Economic Diplomacy and Extroversion Tasos Chatzivasileiou co-chaired the meeting. Various government and private-sector entities in Saudi Arabia were represented. Participants included representatives from the Ministry of Investment, Federation of Saudi Chambers, Public Investment Fund (PIF), NEOM Company, Qiddiya Investment Company, Red Sea Global, King Salman International Airport, Diriyah Company, the New Murabba Company, AlUla Development Company, Roshn Group, and Soudah Development, alongside several Greek companies. © Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (
