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Saudi Exports Hosts 80 Egyptian and Nigerian Importers

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 Saudi Exports Hosts 80 Egyptian and Nigerian Importers
Saudi Exports Hosts 80 Egyptian and Nigerian Importers

1 The Saudi Export Development Authority (Saudi Exports) (www.SaudiExports.gov.sa/en) ​​organized trade missions from Egypt and Nigeria to Riyadh from June 27-28, 2022, under the auspices of the Deputy Minister of Industry and Mineral Resources Eng. Osama Bin Abdulaziz Al-Zamil. The meeting brought together Egyptian and Nigerian importers from the construction, food and medical sectors and Saudi export companies under the “Saudi Made” logo that aim to promote the growth of Saudi non-oil exports and support Saudi exporters. to access promising markets in Africa, thereby strengthening trade cooperation between KSA and the African parties and attracting importers interested in Saudi products.

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3 The organization of this event reflects the authority’s commitment to its strategy, which aims to expand the Saudi product platform and its presence at a regional and international level in line with the objectives of Saudi Vision 2030. In addition, the event traces the movements Saudi Exports’ strategic goals to increase the share of non-oil exports to 50% of non-oil GDP by 2030 by strengthening economic and trade ties with African countries, primarily Nigeria and Egypt. To this end, Saudi company officials held bilateral meetings with Egyptian and Nigerian importers and organized visits to factories representing the target 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 a higher volume of trade between KSA and these two countries.

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4 During 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. Consequently, both countries ranked among the top 10 African export destinations. It is worth noting that in 2021 the Kingdom’s total non-oil exports to African countries reached SAR 29.9 billion.

5 The event demonstrates the ongoing efforts of the Saudi Export Development Authority to revive trade ties with the African continent and other priority countries in conjunction with its goals, supporting the creation of a competitive environment by addressing challenges and consolidating the position of the Saudi product in various regions and countries. global markets as outlined in Saudi Vision 2030.

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