Arab News, Sun, Jul 21, 2024 | Muharram 15, 1446
Almarai, 30Export sign deal for nearly $16m export boost strategy
Saudi Arabia:
A SR60 million ($15.9 million) deal has been signed between food company Almarai
and marketing logistics firm 30Export to boost the former’s foreign trade
prospects.
The agreement, overseen by Minister of Industry
and Mineral Resources Bandar Alkhorayef and Abdulrahman Al-Thukair, the CEO of
Saudi Export Development Authority, was signed by Abdullah Al-Bader, CEO of
Almarai Co. and Ali Al-Malki, 30Export.
According to a statement by Thamer Al-Mishrafi,
the spokesman of SEDA, this memorandum of understanding will empower the brand
in international markets.
This comes as SEDA aims activate all its efforts
and capabilities to explore available means of support in order to enhance the
penetration of national products and services into targeted global markets.
The project also increases Saudi Arabia’s
import-export capacity by improving its connectivity with international trade
routes, aliginng with Vision 2030 goal.
The effort aims to diversify national income
sources and increase the share of non-oil Saudi exports to at least 50 percent
of total gross domestic product by 2030
It also comes as part of the Export Housing
initiative launched by SEDA last year, which enables licensed export houses to
facilitate the export of high-quality national products to international
markets.
These export houses, licensed and qualified by
SEDA, play a crucial role as commercial intermediaries, offering a range of
services across the export value chain.
“This effort aims to assist local factories in
accessing global markets, thereby facilitating the export movement and enhancing
the reach of national goods and services to targeted international markets,”
Al-Mishrafi said in a statement on X.
Saudi Arabia’s non-oil exports saw an annual rise
of 3.3 percent in the first quarter of 2024, fueled by an increase in the value
of re-exports.
According to the General Authority for Statistics,
while national non-oil exports experienced a slight dip of 5.2 percent, the
value of re-expored goods surged by 31.5 percent during the same period.
In October last year, SEDA and Saudi Post, also
known as SPL, signed an agreement to promote the “Made in Saudi” brand across
various channels locally and internationally.
The collaboration agreement was rolled out within
the framework of the National Strategy for Transport and Logistics and the
National Strategy for Industry.
Both parties also introduced joint services to
support the national economy’s transformational goals in light of the Saudi
Vision 2030.