Saudi Arabia’s trade information, key importing sectors, rules and regulations and export procedures formed the key elements of a recent seminar hosted recently by the Dubai Export Development Corporation (EDC).

The seminar entitled “Exporting opportunities to Saudi Arabia” identified food; construction and building materials; flexible plastic and packaging; IT and education as the sectors where UAE companies can gain a competitive advantage and are ones which can easily be exported into the country.

According to EDC’s Dubai Export Monitor Report 2009, exports from Dubai to Saudi Arabia posted an increase of 90.9 per cent, resulting in Dh2.1 billion ($571.7 million) as compared to Dh1.1 billion in 2008, while re-exports increased to 41.67 per cent or Dh3.4 billion against Dh2.4 billion in 2008.

“EDC has always been working on ways to facilitate exports from the Emirates and as part of our services, we conduct regular business sector briefing to make UAE companies aware of the opportunities in foreign markets and how best to approach them,” said Saed Al Awadi, chief executive officer, EDC.

“Saudi Arabia is a major export market for UAE-based products and will further increase its imports of $103 billion over the next few years as the country begins a series of reforms,” he added.

A key aspect of the seminar was about Saudi Arabia’s government procurement and bidding process, company expansion, agents and distributors as well as customs and tariffs.

Different case studies and tips to succeed in Saudi Arabia including exporting barriers within the country were also tackled during the seminar.

“The Saudi Arabia Government is the largest buyer with a budget of $109.3 billion in 2008, which is set to increase over the next few years. A key benefit to UAE-based exporters is that Saudi government purchases strongly favour local and GCC products,” Al Awadi concluded.

The seminar for UAE firms was held by EDC, an agency of the Dubai Department of Economic Development, through its Dubai Exports Academy. – TradeArabia News Service