Riyadh, Saudi Exports Development Authority (SAUDI EXPORTS) today organized a commercial mission for over 30 Saudi senior manufacturers and exporters in the constructions and foodstuff sectors to Oman.
Organizing this mission, which targets 70 Omani companies, follows the two countries’ signing of memorandum of understating worth USD 30 billion with the aim of developing cooperation in various economic fields on the sidelines of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince, Deputy Prime Minister and Minister of Defense’s official visit to Muscat in December, 2021.
Deputy Secretary General for Strategy and Planning at SAUDI EXPORTS Abdulrahman Al-Othman stressed that the commercial mission to Oman will enhance cooperation aspects between the two countries, boost commercial and economic relations, and provide Saudi exporters with available opportunities in the Omani market for all sectors, mainly the constructions and foodstuff sectors.
He noted that the Saudi non-oil exports reached SAR 3.5 billion till November 2021, where the foodstuff topped sectors exporting to Oman with SAR 884 million, followed by the petrochemicals with SAR 709 million and the constructions sector with SAR 529 million.
This step aims to continue efforts of the SAUDI EXPORTS and its endeavors to empower export capabilities, support local producers and exporters through promoting their products, facilitate their access to international markets, and increase the rate of non-oil exports from 16% to 50% of the non-oil GDP, in line with plans to diversify the economy and revenue resources that the Kingdom of Saudi Arabia is adopting according to the targets of Saudi Vision 2030, where increasing non-oil exports is one of its basic elements.
Source: Saudi Press Agency
