Riyadh’s Export Sector Flourishes with Over 30,000 Certificates of Origin Issued in June
In a show of strength for Saudi Arabia’s export sector, more than 30,000 certificates of origin were issued to Saudi manufacturers in June, marking the 14th consecutive month of robust export activity.
Supporting Saudi Exporters Across Various Sectors
The Ministry of Industry and Mineral Resources granted 31,887 permits to Saudi exporters in June, demonstrating support for operations in industrial, commercial, and individual sectors. This steady issuance of permits highlights the Kingdom’s commitment to promoting a thriving export sector and strengthening its local manufacturing base.
Driving Economic Transformation with Vision 2030
This initiative aligns with Saudi Arabia’s Vision 2030 economic transformation plan, aiming to increase the share of non-oil exports in the country’s gross domestic product from 16 percent to 50 percent by 2030. The goal is to diversify the economy and reduce reliance on oil revenue.
Streamlining Services for Exporters
The certificates of origin certify the national origin or acquisition status of products, streamlining services for exporters across various sectors. The Ministry’s commitment to supporting export activities is evident in its efforts to simplify procedures and promote growth in Saudi exports.
Facilitating Trade with Electronic Platforms
The CO service, launched in 2023, offers an electronic platform for businesses to obtain certification without visiting the ministry, saving time and effort. This digital approach aims to make the certification process more efficient and accessible for exporters.
Enhancing Cost-Efficiency and Marketability
According to Trade Finance Global, certificates of origin ultimately make products more cost-efficient for buyers and easier to sell. By providing proof of national origin, these certificates enhance the marketability of Saudi exports and support the growth of the national industry.
Promoting Diverse Exports from Saudi Arabia
Saudi exports of national origin encompass a wide range of products, from petrochemicals and minerals to refined products and agricultural goods. These exports play a significant role in the Kingdom’s economy, showcasing its industrial capabilities and contributing to economic growth.