The Saudi Export Development Authority has launched a promotional campaign in Kuwait from September 29 to October 1. This initiative is part of a broader strategy to improve national service export opportunities through targeted market access tours.
Showcasing Diverse Sectors
During this campaign, leading national companies will visit Kuwait to showcase their services. These sectors include logistics, communications and information technology, consulting, and medical services. The goal is to foster stronger trade relationships between Saudi Arabia and Kuwait.
Strengthening Trade Relations
The tour aims to increase the presence of Saudi non-oil products and services in the Kuwaiti market. Notably, Saudi exports to Kuwait surpassed 3.7 billion Saudi riyals ($986.36 million) in the first half of 2024.
Thamer Al-Meshrafi, spokesman for Saudi Exports, highlighted the tour’s objectives. He stated that the initiative seeks to connect Saudi exporters with Kuwaiti importers and streamline non-oil export processes.
Al-Meshrafi noted that Saudi service exports reached 182 billion riyals ($479 million) in 2023. This figure reflects a 40% increase compared to the previous year, highlighting the growth potential in this sector.
Participation from Key Stakeholders
Several prominent national companies in the services sector will participate alongside representatives from four government agencies. These agencies include the Zakat, Tax, and Customs Authority, the Digital Government Authority, the Transport General Authority, and the Saudi Contractors Authority.
By launching this campaign, Saudi Arabia aims to strengthen economic ties with Kuwait and expand its market footprint.