Canada Moratorium on Export Permits to Saudi Arabia Having 'Negative Impact' on Exporters
A moratorium on export permits for trade with Saudi Arabia is "having a negative impact on Canadian exporters," Global Affairs Canada said in a Nov. 13 memorandum. The policy, which started in November 2018 due to humanitarian concerns, only prevented…
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new permits, while companies with existing permits were allowed to continue to export to Saudi Arabia, it said. "The open-ended nature of Canada’s moratorium on new export permits, and the lack of identified conditions that would allow a resumption of permit issuance, present a high commercial risk for Canadian companies," GAC said. Still, "it is difficult to gather precise figures on the value of lost business," it said.