34 Saudi Companies Promote Products to 140 Iraqi Firms

Bilateral meetings between Saudi and Iraqi companies in Erbil. (Asharq Al-Awsat)
Bilateral meetings between Saudi and Iraqi companies in Erbil. (Asharq Al-Awsat)
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34 Saudi Companies Promote Products to 140 Iraqi Firms

Bilateral meetings between Saudi and Iraqi companies in Erbil. (Asharq Al-Awsat)
Bilateral meetings between Saudi and Iraqi companies in Erbil. (Asharq Al-Awsat)

The Saudi Exports Development Authority organized Tuesday a trade mission to the city of Erbil, Iraq, under the identity of “Made in Saudi Arabia.”

The authority promoted non-oil exporters and their goods, advanced the competitiveness of products from the Kingdom on global markets, and explored new trade cooperation opportunities between the two countries.

More than 34 Saudi companies and 140 Iraqi firms from a variety of sectors, most notably building materials, food products, and packaging, participated in the trade mission.

The mission included bilateral meetings and memoranda of understanding between the Saudi and Iraqi sides.

Participants were also able to benefit from the services provided by relevant government agencies supporting the mission, including the Saudi Export and Import Bank and the Food and Drug Authority.

This allowed businesses to reach agreements to expand exports and find new markets for their products.

This trade trip is an extension of the activities Saudi Exports has been organizing in Iraq, where it participated in several major exhibitions on multiple occasions, including the Baghdad International Exhibition and Erbil Build Expo.

Also, it coordinated the activities of several Saudi-Iraqi trade missions.

This reflects the commitment of Saudi Exports to promoting exporters and providing numerous promotional platforms that connect them with potential customers and partners in the regional and global markets.

By creating several opportunities, Saudi Exports is also contributing to raising the proportion of Saudi non-oil exports to at least 50 percent of the non-oil gross domestic product by 2030.

The Kingdom’s non-oil exports to Iraq amounted to SAR 14.8 billion ($3.95 billion) over the last five years. With a value of SAR 4.42 billion ($1.1 billion), the construction materials industry was the top exporting sector during the time, followed by the food products sector with SAR 4.04 billion (more than $1 billion).



Tourism Minister: Saudi Arabia Sees 27% Increase in Incoming Tourists in 9 Months

Saudi Minister of Tourism Ahmed Al Khateeb speaks at the 2025 Budget Forum in Riyadh. (SPA)
Saudi Minister of Tourism Ahmed Al Khateeb speaks at the 2025 Budget Forum in Riyadh. (SPA)
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Tourism Minister: Saudi Arabia Sees 27% Increase in Incoming Tourists in 9 Months

Saudi Minister of Tourism Ahmed Al Khateeb speaks at the 2025 Budget Forum in Riyadh. (SPA)
Saudi Minister of Tourism Ahmed Al Khateeb speaks at the 2025 Budget Forum in Riyadh. (SPA)

Saudi Arabia's tourism sector continues to achieve remarkable growth, as incoming tourist numbers surged by 27% in the first nine months of 2024 compared to a 14% increase during the same period last year, said Minister of Tourism Ahmed Al Khateeb on Wednesday.

Speaking at the 2025 Budget Forum in Riyadh, Al Khateeb underscored the sector's significant progress toward realizing the goals of Vision 2030.

International tourist arrivals for recreational purposes increased by an extraordinary 600% in 2023 from 2018, he revealed, adding that the rise has been complemented by a boost in visitors arriving for religious purposes, with the Kingdom encouraging such visitors to explore other cities to experience natural and archaeological sites.

The minister said rural tourism has also gained popularity, with increasing demand reported across the Kingdom's diverse regions. By the end of 2023, tourism's contribution to gross domestic product (GDP) reached 5%, and efforts are underway to achieve a 10% contribution by 2030.

Al Khateeb highlighted the economic impact of the sector, noting a surplus of over SAR 41 billion in the balance of payments during the first half of 2024, compared to SAR 48.1 billion for the entirety of 2023. This marks a significant turnaround from 2018 when the balance recorded a deficit of SAR 10 billion, said the minister.

Employment in the tourism sector has also grown substantially, with the number of jobs increasing from 750,000 to 960,000, and localization within the hospitality sector reaching 35%, he added.

The Ministry of Tourism, under the leadership of Prince Mohammed bin Salman, Crown Prince and Prime Minister, is investing heavily in training and developing local talent.

The ministry allocates an annual budget of SAR 375 million to support the qualification and training of up to 100,000 Saudis, including over 10,000 opportunities at world-class institutes, enabling them to take on leadership roles within the industry, Al Khateeb stressed.