Arab Today, arab today uaesaudi trade hits dhs1787b
Last Updated : GMT 18:01:58
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UAE-Saudi trade hits Dhs178.7b

Arab Today, arab today

Arab Today, arab today UAE-Saudi trade hits Dhs178.7b

Abu Dhabi - Arabstoday

The UAE and Saudi customs have discussed latest updates about customs issues of mutual interest between the two countries, the aspects of co-operation to facilitate customs activities in border outlets during their two-day meetings hosted by the Federal Customs Authority (FCA). “The FCA’s statistics report shows that intra-trade volume between the UAE and KSA stood at approximately Dhs178.7 billion from 1999-2011. Saudi imports reached nearly Dhs113.8 billion, while the UAE exports and re-exports came at Dhs22.1 billion and Dhs42.8 billion, respectively,” said Khalid Ali Al Bustani, Acting Director-General of the FCA. From 1999 to 2011-end, KSA maintained its position on top of trade partners in the GCC region, dominating more than 42 per cent of the UAE’s non-oil trade, Al Bustani indicated. “Co-ordination with the Saudi Customs Authority springs from FCA’s strategic objectives, namely protecting the security of society and to facilitate trade and enhance co-operation with partners worldwide,” he added. The Kingdom of Saudi Arabia (KSA) is the UAE’s first partner in the GCC region. Based on the UAE’s non-oil trade statistics, KSA is one of the major trade partners in the Middle East, while the UAE is deemed the Kingdom’s main trade gate. The UAE and Saudi customs authorities also discussed various mechanisms for facing challenges to intra-trade and electronic connection between the Ghuwaifat and Al-Batha Customs authorities during their meetings. In the fourth meeting of the General Directors of the UAE and Saudi Customs Authorities, the UAE team was led by Khalid Ali Al Bustani, Acting Director-General of the FCA and the Saudi delegation was headed by Saleh Bin M. Al-Khaliwi, Director General of Saudi Customs. Al Bustani said that the meeting comes in line with the directions of the sound leadership in the two countries on coordinating to fulfill the obligations of the GCC Customs Union and taking the procedures necessary for increasing intra-trade volumes in outlets. He added: “The meeting was aimed at enhancing customs cooperation between both countries, exchanging opinions and information about common trade issues and developing the mechanisms required for overcoming possible hurdles to the transfer of goods through the agreed-upon communication channels to meet citizen ambitions in the UAE and Saudi Arabia.” The meeting was a good opportunity to promote customs cooperation, thanks to customs authorities’ strategic role in achieving target economic growth rates in both countries amid a great mutual desire for boosting cooperation in customs issues. Al Bustani noted that the meeting is the fourth between both countries’ officials. During the third meeting which was held in Abu Dhabi, the participants agreed on forming a bilateral customs team to follow up and handle trade issues. The team was agreed to meet on a quarterly basis. Trade acceleration and growth in light of globalisation, liberated economic policy and the security challenges related to the increased organised crimes represent the major hindrance to official customs authorities across the world. “The alertness of customs officials and sound leadership in the GCC region, especially the UAE and KSA, in addition to advanced inspection techniques, official awareness of potential risks all contribute to facing challenges. We have a great confidence in the customs sector to overcome hurdles using a state-of-the-art method that can protect the security of society and facilitate intra-GCC trade,” he added. Co-operation between both countries’ customs is at the highest level in all aspects. This cooperation is spurred by mutual understanding and a desire for achieving common goals whether on the level of the Saudi-UAE Joint Customs Committee, liaison groups, and other meetings to address various issues on customs agenda. The committees and liaison teams work on solving any problems promptly. Al Bustani explained that sharing opinion and advice with the Saudi Customs and other authorities in the GCC region as well as international forums is one of the main pillars of FCA’s strategy. He added that co-ordination with international customs authorities arose from an initiative launched by the UAE out of its conviction that being in talks as one bloc bear fruits in the field of customs. From gulftoday  

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Arab Today, arab today uaesaudi trade hits dhs1787b Arab Today, arab today uaesaudi trade hits dhs1787b

 



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