Asharqia Chamber hosted on Wednesday 25 July 2018 a number of workshops that were organized by the Saudi Export Development Authority, in which the specialists of the Authority explained the main features of support in the export program. The workshops will continue until Thursday 26 July 2018 (9 am).
The Board of Directors of Asharqia Chamber and the Chairman of the logistics committee in the Chamber, Bandar bin Rafie Al Jabri, inaugurated the workshops to review the most important achievements of the Authority and its impact on the business sector in the region.
He pointed out that the workshops come within the framework of cooperation between the Chamber and the Authority to educate the business sector about the new services of the Authority and the most important initiatives that support the sector and raise its efficiency.
Al-Jabri said that workshops are a unique opportunity for businessmen and businesswomen to obtain the information that enables them to perform their duties effectively and also to provide them with the procedures they can achieve through the protection of their work through the guarantee program provided by the Authority.
Al-Jabri continued by saying, "In this regard, we stand at a number of points that we find it necessary to mention, perhaps the most important of them is that we are at this time in the stage of national transformation, and the vision of the Kingdom 2030
As the most important goal that we are looking at is 'diversifying the sources of income.' The Kingdom is a global logistics platform as by 2030, the Kingdom would be from the 49th to 25th globally and the first regional."
One of the most important option for achieving these goals is (foreign trade), which is to strengthening the presence in the global markets. It is an important source of income, and a valuable opportunity for a greater role of the private sector.
The presence of the Saudi commodity around the globe means presence of economic and strategic importance of the Kingdom that "to deepen our relations with other nations and peoples through the promotion of intra-trade."
Al-Jabri pointed out that this important strategic objective was a slogan that our country had sought and worked for-for many years-and achieved great achievements, except that in this age of globalization and digital commerce, "we find that this option is more urgent than ever."
It requires a number of commitments, most notably is to provide the highest quality requirements in the goods produced locally and for export, which enhance the competitiveness of these commodities with open markets to all products from different sources, as well as supporting the local environment that is qualified to be a source of products, mainly the free flow of capital, and the development of various logistical support for the pivotal role of commercial activity to and from local and international markets.
In addition, Al-Jabri emphasized, "based on all these data, we find it important to commend the efforts that being made by all parties directly and indirectly related to the subject of export, such as the Ministry of Commerce and Investment, the Saudi Export Authority, the Saudi Customs, the embassies of the Custodian of the Two Holy Mosques in various countries of the world, and all financial institutions."
The efforts that made by these entities have contributed greatly to the development of the export sector, "yet we believe that there is a great role to play in supporting this important economic option."
Al-Jabri noted that Asharqia Chamber is ready to reach out to various stakeholders and cooperate with them to support Saudi exporters and enhance their roles.
The workshop reviewed the types of security documents and their characteristics, where they dealt with exporters' documents of both types. The first one is the comprehensive document that is covering the risks of non-payment for several exports of the holder of the document as the coverage rate is up to 90% of losses due to risks or both and the duration of the document lasts for up to one year, automatically renewed if desired.
The document also provides revolving credit limits for importers on an export basis in an open account method only.
The workshops also dealt with the specific document covering the risk of non-payment for a specific process and for a specified period for one importer up to 90% depending on the type of operation.
In conclusion, Al-Jabri honored Abdullah bin Ahmed Al-Ghamdi, Training Specialist in the Authority.
