Trade remedies system vital for local industry, says GAFT
Saudi Arabia’s trade remedies system protects local industry, aligns with WTO rules, and boosts the global competitiveness of Saudi exports, GAFT says.
Key Takeaways
AIThe General Authority for Foreign Trade has emphasized that the trade remedies system is a key tool for protecting local industry and enhancing its competitiveness both regionally and globally, supporting industrial growth and ensuring a fair business environment.
In a statement on its official X account, the authority explained that the importance of the trade remedies system lies in its alignment with World Trade Organization rules and agreements, reinforcing the Kingdom’s commitment to international trade standards.
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The authority added that the system helps protect Saudi exports in foreign markets and upholds fair competition within the Saudi market, limiting harmful trade practices that could impact domestic products.
It also noted that the system boosts confidence in local products and increases their global competitiveness, supporting economic development goals and strengthening the presence of Saudi products in international markets.