Strategic Partnership Agreement to Bolster Saudi Non-Oil Exports

Business

December 29th, 11:14am

Riyadh - Asharq Al-Awsat

Saudi efforts to bolster exports of its products and goods. Asharq Al-Awsat

The Saudi Exports Development Authority and the Council of Saudi Chambers signed Monday a memorandum of cooperation to build a strategic bilateral partnership. The step aims at supporting and promoting non-oil exports by improving the efficiency of the export environment and promoting Saudi products in international markets. It comes in line with the Kingdom’s ambitious vision, which targets raising the rate of non-oil exports from 16 to 50 percent by 2030 and diversifying sources of income for the national economy. The cooperation is driven by the major strategic roles played by both bodies to serve the economy. The Council represents an umbrella for the Kingdom’s business sector and works to boost its participation in achieving the Saudi vision 2030, including the support for export development efforts. The Authority, however, is concerned with increasing Saudi non-oil exports. It works to raise the quality of Saudi products and achieve its access to international markets, enhancing the Saudi product’s competitiveness. Secretary General of the Council of Saudi Chambers Khaled al-Yahya stressed the importance of the signed memorandum, in light of the government’s clear interest in stimulating economic sectors, especially exports. The memorandum’s articles ensure the Saudi business sector’s participation in achieving the directives to develop Saudi exports and provide national companies with better export opportunities in markets abroad. Secretary General of the Saudi Export Authority Eng. Saleh al-Sulami, for his part, said the cooperation with the private sector’s institutional bodies comes in line with the joint work with partners in the business sector to develop, improve, support and encourage the Saudi export system and provide opportunities and enablers for national companies to assist in delivering Saudi products to international markets. It also aims at enhancing non-oil exports and opening new export channels for national companies by allowing their products to reach various international markets, he added. The cooperation agreement includes contributing to developing non-oil exports, promoting national products in international markets, enhancing and stimulating the export environment, overcoming the obstacles facing Saudi exporters, building strategic partnerships and a distinguished relationship, as well as empowering Saudi exporters through Saudi foreign business councils and visiting trade delegations. The terms further stress the importance of holding periodic meetings between the Saudi Export Development Authority and Saudi foreign business councils, as well as organizing programs, seminars, courses and workshops on export at the headquarters of the authority, the council, and the chambers of commerce and industry.

from Asharq AL-awsat https://english.aawsat.com/home/article/2709991/strategic-partnership-agreement-bolster-saudi-non-oil-exports