Saudi Arabia seizes opportunity to enter Chinese market Release date:2018-05-21

“Silk, tea, and pottery are carried by merchants, monks, and travelers”. It depicts a grand picture of trade contacts along the ancient Silk Road. Nowadays, as the first China International Import Expo is being prepared, Shanghai again attracts the attention of businessmen from around the world.

Saudi Arabia is an important country along the Belt and Road and a crucial economic and trade partner of China. In 2017, bilateral total trade volume reached USD 50 billion, representing a year-on-year growth of 18.22%. Saudi Arabia has been China’s largest trading partner in West Asia and North Africa, while China is the largest export market of Saudi Arabia.

To better enter the large market of China and seize new opportunities, the government and enterprises of Saudi Arabia have come to a consensus and taken action. The Ministry of Commerce and Investment of Saudi Arabia, the Ministry of Energy, Industry and Mineral Resources of Saudi Arabia, and the Council for Saudi Chambers of Commerce and Industry held a joint conference on participation affairs and appointed Saudi Export Development Authority as the leading organizing agency.

Khalid Al-Falih, Minister of Saudi Ministry of Energy, Industry and Mineral Resources, encouraged Saudi Arabian enterprises to participate in the expo on several occasions. Abdulrahman Al-Harbi, Deputy Minister of Saudi Ministry of Commerce and Investment, stated that they would give full support to the China International Import Expo.

As the agency in charge of export, Saudi Export Development Authority was founded in 2013 and aims to expand the export of non-petroleum products of Saudi Arabia and diversify its economy.

They have regarded the expo as a rare opportunity and would like to bring Saudi brands and products to China and impress Chinese people with more than petroleum.

The Saudi Export Development Authority hopes to sign a contract for an exhibition area of over 300 square meters. Exhibitors include world-class petrochemical giants such as Saudi Aramco and SABIC as well as corporations and private companies in the areas of building materials and food. In their view, this is a golden opportunity. They said, Mr. Khalid Al-Falih told them, “Just go ahead, opportunities lie there”.