RIYADH: Mr. Nasib said that the ATA Carnet system reduces costs to exporters by simplifying border crossings, eliminating value-added tax (VAT) and Customs duties with the added advantage that Carnet holders are not required to post securities with the authorities. Saudi Arabia is officially introducing ATA Carnet system in the country effective January 2015.
It also cuts red tape by allowing importers and exporters to use a single document for all Customs formalities. He further stressed that salesmen, exhibitors, and other business travellers may make advance Customs arrangements at predetermined costs, visit several countries, use their ATA Carnet for multiple trips during its one-year validity, and return to their home country without problems or delays.
Mr. Nasib assured the Saudi officials of Dubai Chamber’s commitment to sharing the Chamber’s experience and expertise in the field while providing technical assistance to introduce the system in the Kingdom. Also participating in the workshop were H.E. Khalid Al-Otaibi, Secretary General, Council of Saudi Chambers, and Mr. Ali bin Yahya Al-Shehri from Saudi Customs.
The workshop was organised to inform Saudi business representatives about the implementation of the ATA Carnet system in Saudi Arabia, its functioning, legality, method of use, goods covered and the benefits the system offers to the regional and global business communities.
