Saudi Exporters Experience Over 27% Monthly Increase in Certificates of Origin
In a boost for Saudi exporters, the number of certificates of origin issued saw a significant rise of more than 27% in July, reaching a total of 40,588. This surge in trade opportunities across various sectors marks the 15th consecutive month in which the Ministry of Commerce issued over 30,000 certificates to Saudi manufacturers, showcasing the resilience and strength of the Kingdom’s export sector.
Supporting Economic Transformation with Certificates of Origin
The issuance of certificates of origin plays a crucial role in verifying the national origin of exported products. This service is available to a wide range of entities, including industrial businesses, commercial entities, and individuals like farmers, fishermen, and artisans. Aligning with the goals of Saudi Arabia’s Vision 2030 economic transformation plan, the ministry aims to increase the share of non-oil exports in the country’s GDP from 16% to 50% by the end of the decade.
Diverse Models of Certificates to Cater to Different Export Scenarios
The certificate of origin includes four different models to accommodate various export scenarios. These models cater to national products intended for Gulf Cooperation Council states, national products intended for Arab countries, a preferential unified model for GCC countries, and a general model in both Arabic and English for countries without preferential treatment agreements. This diverse range of models ensures that Saudi exporters can easily navigate the complexities of international trade.