Riyadh — Under the banner of “Saudi Made,” the Saudi Export Development Authority hosted trade missions from Egypt and Nigeria from June 27 to 28, 2022, in Riyadh. Eng. Osama Bin Abdulaziz Al-Zamil, the Deputy Minister of Industry and Mineral Resources, presided over the event.
The missions from the two countries will hold meetings with Saudi export companies in the construction, food, and medical sectors.
These meetings will promote the growth of Kingdom’s non-oil exports. The event will support Kingdom’s exports to access the promising markets in Africa.
It will strengthen trade cooperation between the Saudi and African businesses and attract potential importers of Saudi products.
The meetings come within the authority’s strategy to expand and spread Saudi products and enhance its regional and international presence.
These objectives are in line with the Kingdom’s Vision 2030. The authority’s strategy aims at increasing the share of non-oil Kingdom’s exports by at least 50% of the current total value of non-oil GDP by 2030.
This strategy will strengthen economic and trade relations between the Kingdom and African countries, including Nigeria and Egypt.
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The meetings will also include bilateral business sessions. Saudi companies will interact and Egyptian and Nigerian counterparts and organize factory visits specific to each sector.
The event also aims to attract at least 80 Egyptian and Nigerian buyers to import from 120 Saudi companies on show. Thus increasing the trade volume with these two countries.
The Kingdom’s total non-oil exports to Egypt during 2016-2021 were SR42.3 billion; while the total non-oil exports to Nigeria stood at SR6.2 billion during the same period.
The two countries are among the top 10 African countries according to the value of Saudi exports. Meanwhile, the Kingdom’s total non-oil exports to African countries in 2021 amounted to SR29.9 billion.
This gathering is considered a continuation of the authority’s efforts to revitalize trade relations with the African continent and other priority countries.
The objectives provide a competitive environment through addressing challenges; and enhancing the position of Saudi products in various regional and global markets, in line with the Kingdom’s Vision 2030.