The Federation of Saudi Chambers (FSC) announced today that the Kingdom has obtained accession to the membership of the World ATA Carnet Council (WATAC), reported Saudi Gazette.
Accordingly, the Kingdom will officially implement the ATA Carnet temporary entry system for goods in June 2024.
The ATA Carnet is an international customs and temporary export-import document. It permits duty-free and tax-free temporary import of goods for up to one year. It is generally known as a” Merchandise Passport,” or “Passport for Goods”. Moreover, it contains pre-prepared unified customs declaration forms to be used at each customs border offices.
Saudi Arabia is the 80th country worldwide to apply this international customs system in order to stimulate the global trade through reducing barriers created by different national customs regulations.
FSC will be the only national authority responsible for implementing the temporary entry system for goods in accordance with the terms of the International Istanbul Convention on Temporary Entry.
By implementing this system, the Kingdom will cut red tape by simplifying and unifying customs regulations for temporary import and export. FSC will issue ATA Carnet documents to beneficiaries, enabling them to temporarily import certain goods without paying duties and taxes.
With the arrival of Saudi Vision 2030, Saudi Arabia has undertaken a transformative journey to enhance and diversify the economic sector.
This milestone achievement will play a critical role in promoting the Kingdom’s position as an international destination for trade, investment, tourism, and culture. Concurrently, there is a growing readiness to host international events such as Expo 2030, the 2034 FIFA World Cup, the Dakar Rally, and other international events, contributing to the growth of economic and trade sectors.
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