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Saudi Arabia to Cut Customs Duty on Cement - ASHARQ AL-AWSAT English Archive
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Riyadh, The Kingdom of Saudi Arabia has decided to reduce customs duty on cement from the current level of five percent to zero percent within six months as part of a major move to check the rise in cement prices by liberalizing imports.

This was announced by the Minister of Commerce and Industry at the meeting of the board of directors of the Saudi Arabian Standards Organization (SASO) held yesterday under the chairmanship of Dr. Hashem Yamani.

Speaking to newsmen after the meeting, Dr. Yamani said that from October this year till March next there will be a 30-40 percent additional increase in cement production to overcome the shortfall. &#34This should help meet the demand, &#34 he said.

The minister clarified that it would, however, be a short-term measure and cement duty would return to the existing level of five percent after six months as in the other Gulf states to stabilize the market.

The government had earlier slashed customs tariffs on cement imports from 20 to five percent in an apparent move to bring down soaring prices in the market.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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