The Saudi Ministry of Industry and Mineral Resources has seen an increase in the number of issued certificates of origin over the past several months.
This surge underscores the Kingdom’s commitment to strengthening the export sector by streamlining the issuance process, serving the broader goals of the economic diversification plans under Vision 2030.
Positive Indicators
In August, the Saudi Ministry of Industry and Mineral Resources issued 37,730 certificates of origin, benefiting individuals, companies and factories.
This represents the 16th consecutive month that certificate issuances exceed 30,000. In July, certificates of origin totaled 40,588, while in June it reached 31,887, according to Arab News.
Certificates of Origin
Certificate of origin is an e-service provided by the Saudi Industry Ministry. It facilitates the process of issuing a certificate of origin for local exporters and manufacturers, saving time and effort.
Moreover, the service streamlines and accelerates the export process and provides better services for factories to support the national industry. This, in turn, helps in growing exports and bolstering the Saudi economy.
As a result, the certificates play a key role in boosting the competitiveness of Saudi exports in international markets, enhancing trade relations, and encouraging broader economic growth.
Types of Certificates
The certificates of origin are essential in verifying that the exported goods are either from a Saudi origin or have acquired national origin status, hence facilitating international trade.
The Ministry of Industry issues the certificates in four types, in order to meet all exporters’ needs. The first type is tailored to national products traded within the Gulf Cooperation Council (GCC) countries. Therefore, it facilitates and promotes regional trade.
The second type is designed for exports heading to Arab nations. Furthermore, the Ministry issues a preferential certificate for trade with countries that have free trade agreements with the GCC.
Additionally, there is a general certificate for exports to countries that do not enjoy a preferential treatment. These certificates are issued in both Arabic and English for more accessibility.
Aligning with Vision 2030
Boosting the Saudi export sector helps the Kingdom in achieving its economic transformation plans, by diversifying its economy and reducing its reliance on oil revenues.
This closely aligns with the objectives of Vision 2030, which aims to promote sustainable, long-term economic growth. One of the key pillars to achieving this end is expanding non-oil sectors.
Saudi Exports Initiatives
In order to foster its export sector, Saudi Arabia has recently introduced a number of key initiatives that aim to bolster its export capabilities, especially for non-oil products, as part of its economic diversification plan.
The Saudi Export Development Authority (Saudi Exports) leads these efforts. One of its key initiatives is the “Made in Saudi” program, which helps companies obtain the “Made in Saudi” brand to promote their locally produced goods in the international markets.
The “Made in Saudi” brand underscores the Saudi products’ quality and credibility, hence establishing their presence in global markets and increasing their competitiveness abroad.
International Participation
The Saudi Export Development Authority has played a pivotal role in enhancing the Kingdom’s international trade relations, by fostering partnerships between Saudi exporters and global customers.
Throughout 2024, the Saudi Exports have sent delegations to several global exhibitions and events to highlight Saudi non-oil exports.
In June, it took part in the Big 5 Construct Egypt 2024, the largest construction event in Egypt. In August, Saudi Exports participated in the Anuga Select India 2024 Exhibition, one of the most prominent exhibitions in the food industry.
This increased regional and international participation serves Saudi Arabia’s strategic goal of expanding market access to national products, increasing non-oil exports to 50% of the GDP, diversifying economy, and reducing reliance on oil revenues.
