RIYADH — The Federation of Saudi Chambers (FSC) announced Saudi Arabia’s accession to the membership of the World ATA Carnet Council (WATAC). As of June, the Kingdom will officially implement the ATA Carnet temporary entry system for goods, making it the 80th country worldwide to apply this international customs system.
The ATA Carnet, also referred to as a ”Merchandise Passport,” or “Passport for Goods”, is an international customs document that allows for temporary entry of goods on a duty-free and tax-free basis, whether shipped or hand-carried. The ATA Carnet system was established by the International ATA Conventions and is governed by the World Customs Organization and the International Chamber of Commerce’s World Chambers Federation. Its aim is to encourage world trade and reduce trade barriers created by different national customs regulations.
This customs document allows for the temporary import of goods for up to one year without the obligation to pay any duties, taxes, or customs procedures, provided they are re-exported or exported within the specified period. The Carnet covers a wide range of goods.
This step is in line with the aspirations of the Saudi Vision 2030, which is to enhance the Kingdom’s position as an international destination for economic, sports, cultural, and tourism activities and promote an attractive investment environment. It also enhances the Kingdom’s readiness to host international events such as Expo 2030, the 2034 FIFA World Cup, the Dakar Rally, and other international events, as well as the expected impact on boosting trade activity and the growth of various economic sectors.
The Federation of Saudi Chambers will be the sole national authority responsible for implementing the temporary entry system for goods in accordance with the terms of the International Istanbul Convention on Temporary Admission. The FSC will issue ATA Carnet documents to beneficiaries, enabling them to temporarily import some goods without the need for standard customs procedures or paying fees and taxes.
Many economic sectors in the Kingdom, especially entertainment, arts, and exhibitions, will benefit from implementing the temporary entry system for goods. The system allows the import of goods, products, commercial samples, and professional equipment without customs duties, which will contribute to revitalizing seasonal events and exhibitions and reducing the burdens and operational costs on related sectors
Source: Zawya
