Jubail Commercial Port has seen a 20 percent increase in the total weight of cargo transported via its port during the first half of 2014 with 5,075,054 tons compared to 4,244,648 tons during the same period in question.
Captain Fahd bin Ahmed Al-Amer, director general of Jubail Commercial Port, said that the total tonnage of liquid bulk cargo exports and imports amounted to 1,693,001 tons in the first six months since the beginning of the year compared to the same period last year when it was 1,132,343 tons, a 50 percent increase.
Meanwhile, the general cargo exports and imports declined by 38 percent where it scored 579,738 tons by the end of June this year compared to 927,645 tons in the first half of 2013, he noted.
Al-Amer said the number of containers (TEU) saw an increase of 26 percent for the first half of 2014 when it stood at 190,156 TEUs compared to 150,411 TEUs for the same period last in 2013.
According to him, a total number of 393 ships have docked at Jubail Commercial Port during the first half of 2014 compared to 322 ships for the first half of 2013, with 22 percent increase.
Al-Amer predicted that the increase will continue steadily during the current year due to the efforts of the port’s management in marketing and promoting the port to the private sector and via encouraging them to import and export via the port as well as the continuous development of the port’s services that are offered for customers in addition to improving the mechanisms of operation, which boosted the customers’ confidence in the port’s system.
“These achievements come as a result of the support given by the government of Custodian of the Two Holy Mosques King Abdullah to the ports’ sector and the direct and ongoing follow-up of Abdulaziz bin Muhammad Al-Tuwaijri, president of Saudi Ports Authority, to enhance the performance of the Saudi ports and develop them to compete with international ports,” he added.
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Jubail port records 20% increase in cargo transport
Jubail port records 20% increase in cargo transport
India and US release a framework for an interim trade agreement to reduce Trump tariffs
NEW DELHI: India and the United States released a framework for an interim trade agreement to lower tariffs on Indian goods, which Indian opposition accused of favoring Washington.
The joint statement, released Friday, came after US President Donald Trump announced his plan last week to reduce import tariffs on the South Asian country, six months after imposing steep taxes to press New Delhi to cut its reliance on cheap Russian crude.
Under the deal, tariffs on goods from India would be lowered to 18 percent, from 25 percent, after Indian Prime Minister Narendra Modi agreed to stop buying Russian oil, Trump had said.
The two countries called the agreement “reciprocal and mutually beneficial” and expressed commitment to work toward a broader trade deal that “will include additional market access commitments and support more resilient supply chains.” The framework said that more negotiations will be needed to formalize the agreement.
India would also “eliminate or reduce tariffs” on all US industrial goods and a wide range of food and agricultural products, Friday’s statement said.
The US president had said that India would start to reduce its import taxes on US goods to zero and buy $500 billion worth of American products over five years, part of the Trump administration’s bid to seek greater market access and zero tariffs on almost all American exports.
Trump also signed an executive order on Friday to revoke a separate 25 percent tariff on Indian goods he imposed last year.
Indian Prime Minister Narendra Modi thanked Trump “for his personal commitment to robust ties.”
“This framework reflects the growing depth, trust and dynamism of our partnership,” Modi said on social media, adding it will “further deepen investment and technology partnerships between us.”
India’s opposition political parties have largely criticized the deal, saying it heavily favors the US and negatively impacts sensitive sectors such as agriculture. In the past, New Delhi had opposed tariffs on sectors such as agriculture and dairy, which employ the bulk of the country’s population.
Meanwhile, Piyush Goyal, Indian Trade Minister, said the deal protects “sensitive agricultural and dairy products” including maize, wheat, rice, ethanol, tobacco, and some vegetables.
“This (agreement) will open a $30 trillion market for Indian exporters,” Goyal said in a social media post, referring to the US annual GDP. He said the increase in exports was likely to create hundreds of thousands of new job opportunities.
Goyal also said tariffs will go down to zero on a wide range of Indian goods exported to the US, including generic pharmaceuticals, gems and diamonds, and aircraft parts, further enhancing the country’s export competitiveness.
India and the European Union recently reached a free trade agreement that could affect as many as 2 billion people after nearly two decades of negotiations. That deal would enable free trade on almost all goods between the EU’s 27 members and India, covering everything from textiles to medicines, and bringing down high import taxes for European wine and cars.
India also signed a comprehensive economic partnership agreement with Oman in December and concluded talks for a free trade deal with New Zealand.
The joint statement, released Friday, came after US President Donald Trump announced his plan last week to reduce import tariffs on the South Asian country, six months after imposing steep taxes to press New Delhi to cut its reliance on cheap Russian crude.
Under the deal, tariffs on goods from India would be lowered to 18 percent, from 25 percent, after Indian Prime Minister Narendra Modi agreed to stop buying Russian oil, Trump had said.
The two countries called the agreement “reciprocal and mutually beneficial” and expressed commitment to work toward a broader trade deal that “will include additional market access commitments and support more resilient supply chains.” The framework said that more negotiations will be needed to formalize the agreement.
India would also “eliminate or reduce tariffs” on all US industrial goods and a wide range of food and agricultural products, Friday’s statement said.
The US president had said that India would start to reduce its import taxes on US goods to zero and buy $500 billion worth of American products over five years, part of the Trump administration’s bid to seek greater market access and zero tariffs on almost all American exports.
Trump also signed an executive order on Friday to revoke a separate 25 percent tariff on Indian goods he imposed last year.
Indian Prime Minister Narendra Modi thanked Trump “for his personal commitment to robust ties.”
“This framework reflects the growing depth, trust and dynamism of our partnership,” Modi said on social media, adding it will “further deepen investment and technology partnerships between us.”
India’s opposition political parties have largely criticized the deal, saying it heavily favors the US and negatively impacts sensitive sectors such as agriculture. In the past, New Delhi had opposed tariffs on sectors such as agriculture and dairy, which employ the bulk of the country’s population.
Meanwhile, Piyush Goyal, Indian Trade Minister, said the deal protects “sensitive agricultural and dairy products” including maize, wheat, rice, ethanol, tobacco, and some vegetables.
“This (agreement) will open a $30 trillion market for Indian exporters,” Goyal said in a social media post, referring to the US annual GDP. He said the increase in exports was likely to create hundreds of thousands of new job opportunities.
Goyal also said tariffs will go down to zero on a wide range of Indian goods exported to the US, including generic pharmaceuticals, gems and diamonds, and aircraft parts, further enhancing the country’s export competitiveness.
India and the European Union recently reached a free trade agreement that could affect as many as 2 billion people after nearly two decades of negotiations. That deal would enable free trade on almost all goods between the EU’s 27 members and India, covering everything from textiles to medicines, and bringing down high import taxes for European wine and cars.
India also signed a comprehensive economic partnership agreement with Oman in December and concluded talks for a free trade deal with New Zealand.
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