Saudi Ministry of Commerce discusses higher prices on Russia-Ukraine crisis

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Saudi Arabia’s Ministry of Commerce held a workshop to discuss the effects of Russia-Ukraine crisis on global and local markets, as well as on products, commodities, production costs, in addition to the rising costs of shipping and logistics services.

In a statement, the ministry added that 12 government agencies, the Federation of Saudi Chambers and representatives of 70 major companies operating in the food, wholesale and retail sectors participated in the workshop.

Minister of Commerce Majid Alkassabi stressed the government’s keenness to overcome all challenges and obstacles facing the private sector, especially those related to supply chains and food stocks of basic materials, in light of the repercussions of Russia-Ukraine crisis.