Saudi: AkzoNobel exempt from customs duty hikeby Fatima De La Cerna on Mar 14, 2017
AkzoNobel has released a statement saying that customers in Saudi Arabia can save as much as 20% on customs duty when they buy the company’s ‘Made in Saudi’ Chartek epoxy fire protection products.
The announcement was made on the heels of the government saying that it was removing subsidies from 193 goods, including building materials.
According to AkzoNobel, the products are fully manufactured in its plant in Dammam and are exempt from the hike in customs duty, which is otherwise applicable to imported products in the market.
Andrea Meconcelli, Middle East performance coatings director of AkzoNobel, said: “This is a welcome move that can benefit our customers in Saudi Arabia.
"Today, nearly 60% of our ‘Made in Saudi’ products are used in the construction, transport, and infrastructure development sectors. The exemption of customs duty will enable our customers to make significant savings in overall project costs.”