SASCO subsidiary inks contract with Saudi customs

03/10/2018 Argaam

 

Saudi Automobile Association Co (SATA) has signed an agreement with the Saudi Customs Authority to issue and operate international transport of goods under Transports Internationaux Routiers (TIR) across the Kingdom.

 

SATA is a subsidiary of Saudi Automotive Services Company (SASCO).

 

The agreement aims to activate the role of SATA and to transform a representative member of the International Road Transport Union (IRU) into an active member, SASCO noted in a statement to Tadawul.

 

The financial impact of the agreement will reflect on Q2 2019 earnings. There are no related parties, the statement added.


TIR streamlines procedures at borders, reducing the administrative burden for customs authorities and for transport and logistics companies. It cuts border waiting times significantly, saving time and money, according to the IRU website.

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