The Saudi Ministry of Commerce and Investment (“MoCI”) has recently launched a new electronic service that allows exporters to issue and print export certificates of origin (“CoO”) online. This initiative is expected to facilitate the issuance of export CoO’s and help exporters to reduce costs.
The MoCI has recently announced a new online service which aims at facilitating the issuance of export CoO’s for local manufacturers, traders and individuals exporting goods from the Kingdom of Saudi Arabia (“KSA”).
The new system replaces the previous lengthy paper-based process with a new online tool that allows businesses to apply and obtain a certified electronic print out of the export CoO through a completely online web based process.
Link with Customs
The new system is electronically linked with the Saudi Customs, which can ensure the validity and accuracy of the data listed in the CoO before starting the export formalities at the border. This is expected to reduce the export clearance time and facilitate the export formalities for Saudi exporters.
In order to benefit from the new electronic service, exporters are required to register and/or update their account information on the MoCI web portal.
The CoO is one of the main export documents required by the Customs authorities of both the exporting and the importing countries. The new online system is expected to reduce the export clearance time and associated exports costs for exporters in KSA.
We recommend businesses with significant export volumes and frequent need of obtaining CoO’s to register with the MoCI to reduce the costs associated with the exports of goods from KSA.
For a deeper discussion of how this new service can benefit your business, please do not hesitate to contact our specialists in Switzerland.