UAE and Saudi Arabia discuss financial and economic cooperation between the two countries at the Expo

The Finance and Investment Committee of the Saudi-Emirati Coordination Council held its first meeting for 2022 last Tuesday at Expo 2020 Dubai. The meeting was chaired by Younis Haji Al-Khoury, Undersecretary of the Ministry of Finance, while the delegation of the Kingdom of Saudi Arabia was headed by Abdulaziz bin Mutaib Al-Rasheed, Assistant Minister Assistant Minister of Finance for Macro-Fiscal Policies and International Relations. The meeting was attended by His Excellency Ahmed bin Lahej Al Falasi, Director General of Customs at the Federal Authority for Identity, Citizenship, Customs and Ports Security, in addition to a number of managers from the ministries and relevant authorities in the two brotherly countries.
During the meeting, it was agreed to strengthen the strategic partnership between the UAE and Saudi Arabia in the economic field and customs cooperation. A number of main initiatives were agreed upon, including: “facilitating the flow of movement between the customs ports”, from which several sub-initiatives emerge, including the approved economic operator, combating smuggling, developing the electronic link between the ports, removing the obstacles facing the national companies and factories in the two countries at the inter-customs ports, and approving the results of the examination of non-customs restrictions by the port to which the goods are received, which are carried out at the opposite port.

About the Authority:
The Federal Authority for Identity, Citizenship, Customs and Port Security is the authority responsible for regulating the affairs of identity, citizenship, passports, entry and residence of foreigners in the country, enhancing the security of ports, borders and free zones, raising their efficiency and readiness, and organizing and managing customs work in the country in accordance with security standards and requirements.
The authority was established on August 25, 2021 by Federal Decree-Law No. (14) for the year 2021, issued by His Highness Sheikh Khalifa bin Zayed bin Sultan Al Nahyan, President of the UAE (may God protect him), to replace the Federal Authority for Identity and Citizenship and the Federal Authority for Customs, and the General Authority for the Security of Ports, Borders and Free Zones.