Saudi Arabia Slashes Customs Fees and Introduces New Yacht Regulations under Vision 2030
Saudi Arabia to Waive Export Customs Fees and Reduce Import Fees, Enhancing Global Trade Hub Status
Starting off with some significant trade news, Saudi Arabia is set to waive all export customs service fees and reduce import customs service fees to 0.15% of the value of incoming goods from October 6, 2024. This move, aligned with Vision 2030, aims to lower costs for importers and exporters, making Saudi Arabia a global logistics hub. Additionally, a SR15 fee will be introduced for customs declaration processing on individual shipments valued under SR1,000.
In line with these efforts to diversify the economy, the Saudi Red Sea Authority has rolled out its first-ever yacht regulations to boost sustainable coastal tourism in the Red Sea. The regulations focus on safety and environmental protection, setting criteria for issuing tourism and leisure licenses, which is expected to enhance user experiences and safeguard marine environments.
Meanwhile, those seeking entertainment can head to the King Abdulaziz Center for World Culture (Ithra) in Dhahran, where the captivating show Circus 1903 is being hosted until September 13, 2024. This two-hour performance features gravity-defying stunts, humorous antics, and realistic puppetry, continuing the legacy of classic circus entertainment.
Switching gears to environmental efforts, Jeddah will be the site of the 38th meeting of the International Coral Reef Initiative from September 9 to 13. This gathering of global experts will address climate change, pollution, and unsustainable fishing, with the aim of promoting coral reef conservation and sustainability in line with Saudi Vision 2030.
On a diplomatic note, Saudi leaders King Salman and Crown Prince Mohammed bin Salman have extended their congratulations to Brazilian President Luiz Inacio Lula da Silva on the occasion of Brazil’s Independence Day. They wished him health and happiness, while also expressing hopes for Brazil’s continued progress and prosperity.
Lastly, turning our attention to Morocco, the country has intercepted over 45,000 migrants attempting to enter Europe in 2024 and dismantled 177 trafficking gangs. The Moroccan navy rescued 10,859 migrants at sea, highlighting the ongoing pressure due to instability in the Sahel region and the strengthened cooperation with Spain to combat illegal migration.
In line with these efforts to diversify the economy, the Saudi Red Sea Authority has rolled out its first-ever yacht regulations to boost sustainable coastal tourism in the Red Sea. The regulations focus on safety and environmental protection, setting criteria for issuing tourism and leisure licenses, which is expected to enhance user experiences and safeguard marine environments.
Meanwhile, those seeking entertainment can head to the King Abdulaziz Center for World Culture (Ithra) in Dhahran, where the captivating show Circus 1903 is being hosted until September 13, 2024. This two-hour performance features gravity-defying stunts, humorous antics, and realistic puppetry, continuing the legacy of classic circus entertainment.
Switching gears to environmental efforts, Jeddah will be the site of the 38th meeting of the International Coral Reef Initiative from September 9 to 13. This gathering of global experts will address climate change, pollution, and unsustainable fishing, with the aim of promoting coral reef conservation and sustainability in line with Saudi Vision 2030.
On a diplomatic note, Saudi leaders King Salman and Crown Prince Mohammed bin Salman have extended their congratulations to Brazilian President Luiz Inacio Lula da Silva on the occasion of Brazil’s Independence Day. They wished him health and happiness, while also expressing hopes for Brazil’s continued progress and prosperity.
Lastly, turning our attention to Morocco, the country has intercepted over 45,000 migrants attempting to enter Europe in 2024 and dismantled 177 trafficking gangs. The Moroccan navy rescued 10,859 migrants at sea, highlighting the ongoing pressure due to instability in the Sahel region and the strengthened cooperation with Spain to combat illegal migration.
