Saudi Arabia lifts export ban

Saudi Arabia lifts export ban
Published: 08 October 2009

Saudi Arabia’s Ministry of Commerce and Industry has lifted the two-year-old ban on exports of cement products.

The ministry’s decision allows manufacturers of various types of cement products, including cement blocks, hollow bricks and pipes, to resume exports under the conditions indicated by the ministry earlier.

"The conditions include keeping 10 per cent of the products as reserves in the regions where the factories are operating, and making available a bag of cement for a price of 10 Saudi riyals [Dh9.79] in the local market.

The companies must also furnish the ministry with periodic reports about the volume of products and market conditions," according to a ministry statement. Dr Khalid Al Sulaiman, undersecretary in the ministry for industrial affairs, recently said that the decision to resume exports was imminent.

Source: Gulf News