Riyadh – Mubasher: Saudi Arabia on Thursday decided to cancel all export duties on steel for two years, according to a statement issued by the commerce and investment ministry.
In addition, the ministry said that export fees regarding cement factories will be reduced by 50% for two years.
This strategy was determined in order to encourage local producers and national industries, which could then compete internationally.
A report will be issued every six months to evaluate the new strategy and its effect on national exports, the statement added.
