The meeting brought together
Egyptian and Nigerian importers from the construction, food, and medical
sectors and Saudi exporting companies under the
“Saudi Made” logo aspiring to promote the growth of Saudi non-oil
exports, support Saudi exporters to
access promising markets in Africa, thereby strengthening trade cooperation
between KSA and the African sides and attracting importers interested in Saudi
products.
Organizing this event reflects the authority’s commitment to
its strategy, which aims at extending the platform of Saudi products and their
presence regionally and internationally in line with Saudi Vision 2030’s goals.
Additionally, the
event maps Saudi Exports’ strategic moves to raise the share of non-oil exports
to 50% of non-oil GDP by 2030 through
strengthening economic and trade ties with the African countries, mainly
Nigeria and Egypt. To this end, officials from the Saudi companies held
bilateral meetings with the Egyptian and Nigerian importers and organized
visits to factories representing the targeted sectors.
This, in turn, resulted in attracting 80 buyers from Egypt and Nigeria to import
products from 120 Saudi producing and exporting companies, which will lead to
greater trade exchange volume between KSA and these two countries.
Over the period 2016-2021, the volume of the Kingdom’s
non-oil exports to Egypt reached SAR 42.3 billion followed by Nigeria with SAR
6.2 billion.
Accordingly, both countries ranked among the top 10 African
export destinations. It’s worth noting that in 2021 the Kingdom’s total non-oil
exports to the African countries reached
SAR 29.9 billion.
The event demonstrates the Saudi Export Development
Authority’s ongoing efforts to revive the trade ties with the African continent
and other priority countries in conjunction with its objectives, which support
creating a competitive environment by addressing challenges and cementing the
position of the Saudi product across several regional and global markets as
outlined by Saudi Vision 2030.