ERBIL — Eng. Saleh Al-Solami, Secretary General of the Saudi Export Development Authority (Saudi Exports) inaugurated the Saudi pavilion at the 11th edition of the annual Erbil International Building Exhibition in Iraq being held from April 22 to 25. The exhibition gathers more than 400 companies from building, construction, municipality equipment, machinery sectors, which represent 30 countries on an area space of more than one thousand square meters.

The Kingdom of Saudi Arabia is highly represented at this event through the participation of Saudi Exports and 22 Saudi companies from building materials sector. This participation supports Saudi Exports general strategy aiming to expand the reach of Saudi products to new global and regional markets, in addition to strengthening bilateral trade relations between Saudi Arabia and Iraq.

The Deputy Prime Minister of Kurdistan region Qubad Talabani visited the Saudi pavilion after initiating it with Al-Solami alongside the Saudi Consul in Iraq Mansour Al-Otaibi and a number of ministers and officials representing the Kurdistan region and the Iraqi government. The officials admired the pavilion and praised Saudi products for their high quality and global competitiveness.

Commenting on the event, Al-Solami described the exhibition as an important step that contributes towards raising the value of trade exchange and expanding the export base of Saudi companies. He said Saudi Exports strives to support Saudi business by raising their products’ competitiveness in international and regional markets as outlined within the objectives of Vision 2030 regarding increasing non-oil export shares from 16 to 50 percent of GDP.

He added that the Saudi participation is an extension of historical relations between the Kingdom and the Republic of Iraq, which provides a sturdy platform for developing bilateral economic and trade ties. Al-Solami also anticipated additional Saudi-Iraqi cooperation during upcoming events.

Moreover, Al-Solami said the quality and specifications of the Saudi product gives it added value in the Iraqi market, and added that the role of Saudi Exports lies in providing all the necessary requirements that ensure easy access for Saudi products into the Iraqi market and other major regional markets.

During 2018, the value of the Kingdom’s non-oil exports to Iraq stood at SR2.4 billion, a 40 percent surge from the previous year. The food sector ranked first at SR662 million, followed by the building materials sector with an export value of SR565 million. Over the past five years, the Kingdom’s non-oil exports to Iraq amounted to SR10 billion ($2.6 billion).

In the exhibition, business matching meetings were held which offer Saudi companies an opportunity to forge business deals with Iraqi counterparts in aims to increase their exports and open new markets for their products. This reflects Saudi Exports keenness to promote Saudi exporters and products and develop innovative platforms that bring them together with potential buyers and partners from around the world.

Overall, Saudi Exports work is a translation of Vision 2030 and a response to the aspirations of the astute Saudi leadership to diversify sources of income for the national economy. To do so, the authority employs all its capacities to improve the efficiency of the export environment, overcome possible barriers faced by exporters, raise their knowledge on global export practices, and develop human competencies in the field of export. It also seeks to encourage exporters and enhance their capabilities and readiness through export readiness assessment and consulting services. Saudi Exports also helps create suitable opportunities for exporters to tap new markets by providing markets reports and studies.

Furthermore, it promotes Saudi products through participating in international exhibitions, and facilitates communication between exporters and potential buyers and partners through trade missions and bilateral meetings conducted on the sidelines of international trade events. — SG