30Export And Almarai Ink Deal To Amplify Global Presence Of Saudi Products

30Export and Almarai Company signed a SAR60 million memorandum of understanding (MoU) to boost the purchasing power of high-quality national products abroad. The signing event included 30Export general manager Ali Al-Malki and Almarai chief executive Abdullah bin Nasser Al-Bader, with Minister of Industry and Mineral Resources Bandar bin Ibrahim Alkhorayef and Saudi Export Authority (Saudi Exports) chief Eng. Abdulrahman bin Suleiman Al Thukair in attendance.

30Export is one of the export houses licensed by Saudi Exports, which aims to empower local factories wishing to expand their operations. The authority connects these factories with licensed export house companies to enhance their access to global markets. This initiative helps local products reach international buyers, facilitating export movement and improving market penetration.

Saudi Exports spokesman Thamer Al-Mishrafi praised the agreement for its role in empowering Saudi non-oil exports globally. He highlighted that Saudi Exports is committed to providing qualitative services and programs for exporters, including the export houses service launched last year during the second annual Made in Saudi exhibition.

Licensed export houses are companies with export experience, acting as commercial intermediaries approved by Saudi Exports after meeting licensing requirements. These companies offer various services along the value chain until local products reach end importers, aiding clients from local factories in accessing global markets efficiently.

Saudi Exports is keen on exploring support methods to enhance national product access to global markets. This effort aims to diversify national income sources and increase the proportion of Saudi non-oil exports to at least 50% of total non-oil GDP by 2030.

The MoU between 30Export and Almarai represents a significant step towards achieving these goals. By leveraging the expertise of licensed export houses, Saudi Arabia aims to strengthen its presence in international markets, thereby boosting its economic diversification efforts.

With inputs from SPA