Saudi exporters receive over 31k certificates of origin in June in sign of robust sector

RIYADH: More than 30,000 certificates of origin were issued to Saudi manufacturers for the 14th consecutive month in June, highlighting the robustness of the Kingdom’s export sector.  

The Ministry of Industry and Mineral Resources granted 31,887 permits to Saudi exporters in the sixth month of the year, supporting operations across industrial, commercial, and individual sectors. 

The last time the figure dropped below 30,000 was April 2023, according to information released by the Saudi Press Agency. 

This comes as the Kingdom continues to strengthen its local manufacturing base and promote a thriving export sector.  

This initiative is part of the Kingdom’s goal under the Vision 2030 economic transformation plan to increase the share of non-oil exports to Saudi Arabia’s gross domestic product from 16 percent to 50 percent by the decade’s end.   

The document certifies the national origin or acquisition status of products, underscoring the ministry’s commitment to streamline and support services for exporters across various sectors, including industrial establishments, commercial enterprises, and individual businesses such as farmers, fishermen, and artisans.  

The permit comprises four distinct modes: one for national products destined for Gulf Cooperation Council countries, another for Arab nations, a preferential origin certificate, and a bilingual version tailored for countries that do not provide preferential treatment. 

The Ministry of Industry and Mineral Resources began issuing these documents after the Cabinet decided to transfer the issuance of COs for all national products from the Ministry of Commerce to the Ministry of Industry.  

The CO service, launched at the beginning of 2023, also offers an electronic platform that allows businesses to obtain certification without visiting the ministry, thus saving time and effort. 

According to the London-based broker Trade Finance Global, the certificates ultimately make a product more cost-efficient for buyers and easier to sell. 

This service also aims to support the national industry and streamline procedures to promote the growth and development of Saudi exports, according to the ministry. 

In May, the Ministry of Industry and Mineral Resources issued 38,319 certificates of origin as part of its initiatives to enhance exports across diverse sectors. 

Saudi exports of national origins refer to products exported directly from Saudi Arabia, typically produced or manufactured within the country. These exports contribute significantly to the Kingdom’s economy, showcasing its industrial capabilities across sectors such as petrochemicals, minerals, refined products, and agricultural goods.