SABIC, Saudi Customs sign MoU to ease trade procedures

Saudi Customs has signed a memorandum of understanding (MoU) with Saudi Basic Industries Corp. (SABIC) to ease export and import procedures at Al Jubail Commercial Sea Port.

The MoU was signed by Faisal Al Badah, Deputy Governor of the General Customs Authority and Fayez Al Malki, Vice President of Global Supply Chain at SABIC, according to statement from Saudi Customs.

The deal is expected to boost exports and imports, which in return, would impact positively on the Kingdom’s economy to achieve Saudi Vision 2030, the statement read.

“We are proud that SABIC is the first company in the Kingdom to have this advantage that will contribute to enhancing the value of its brand. We aim to achieve a record time in the procedures of customs clearance, unloading containers and re-export,” HE Dr. Abdul Aziz Al Jarbou, Chairman of SABIC, said during the signing ceremony.