Saudi Arabia approves trade concession system

The Saudi Council of Ministers decided Tuesday to approve the trade concession system, after reviewing the recommendations made by the Minister of Commerce and Investment and the recommendations prepared by the Economic and Development Council accepting the trade concession system.

The Saudi Council also approved the Minister of Transport and Chairman of the Board of Directors of the Public Transport Authority’s proposal to approve operating the public transport networks by buses as a first stage in some cities and provinces of Saudi Arabia.

In a related context, the Council of Ministers approved the draft charter of cooperation between oil producing countries, and the signing by the Minister of Energy, or his designee, of a draft charter of cooperation between oil producing countries with his Russian counterpart.

The Council decided to authorize the Minister of Energy, or his designee, to discuss with the Russian side a draft protocol of cooperation between the Ministry of Energy in Saudi Arabia and the Ministry of Energy in the Russian Federation.

The Council also decided to authorize him to discuss with the Russian side on draft memorandums of understanding in several areas, including the promotion and protection of mutual investments, increasing the export of agricultural and food products, tax administration, civil aviation security, and the media cooperation.

You might also like

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. AcceptRead More