Al-Marsad Newspaper: While the Council of Ministers finally approved the establishment of free markets at land, sea and air ports, economists confirmed that the free market is concerned with displaying goods designated for display or sale with the suspension of payment of customs duties and taxes.
Economist Hani Al-Jafri explained, according to “Okaz”, that free markets can be located at customs ports for arrival or departure, whether air, sea or land, and markets can be located on planes or cruise ships.
Al-Jafri indicated that the body expected to supervise these markets is the Ministry of Finance represented by the Zakat, Tax and Customs Authority, according to the draft of the free markets previously announced.
He stressed that free markets will support national industries, as it is expected that a specific percentage of the products offered in the halls should be of Saudi origin.
Regarding the mechanism of entry of goods, Al-Jafri explained that it is allowed to enter all foreign goods of any kind or origin into the free market areas, as well as to take them outside the country or to other free market areas without being subject to taxes and customs fees.