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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)
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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).

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Saudi Minister of Industry: Geological Survey Authority to Play Key Role in Mining Over Next 25 Years

Prince Saud and the Minister of Industry during the Authority's ceremony. (Makkah Region)
Prince Saud and the Minister of Industry during the Authority's ceremony. (Makkah Region)
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Saudi Minister of Industry: Geological Survey Authority to Play Key Role in Mining Over Next 25 Years

Prince Saud and the Minister of Industry during the Authority's ceremony. (Makkah Region)
Prince Saud and the Minister of Industry during the Authority's ceremony. (Makkah Region)

Saudi Arabia’s Geological Survey Authority plays a vital role in uncovering the earth’s reserves of metals such as gold, zinc, and copper. According to Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef, this role is set to expand significantly in the next 25 years as the Authority becomes central to advancing the mining sector.

Alkhorayef emphasized the commitment to continuing geological survey and exploration projects, providing critical data to investors. He highlighted initiatives launched by the Authority to transform the mining sector into the third pillar of the national economy.

The minister was speaking during a ceremony celebrating the 25th anniversary of the Saudi Geological Survey Authority. The event, held under the patronage of Prince Khalid Al-Faisal, Advisor to the Custodian of the Two Holy Mosques and Governor of the Makkah Province, was inaugurated by Prince Saud bin Mishaal bin Abdulaziz, Deputy Governor of the region, in the presence of senior officials and distinguished guests.

In an interview with Asharq Al-Awsat, Alkhorayef noted the significant influx of investment in Saudi Arabia’s mining sector.

“There is now a large number of investment applications in the mining sector. We are collaborating with other government entities to ensure site allocations for investors,” he said.

He added that new agreements are being signed daily, both for expansions by existing investors and for new entrants to the sector.

The data obtained from geological surveys and the Authority’s digital platform has positioned Saudi Arabia as a prime destination for mining investments,’ he stressed.

“The results we achieve through geological surveys and accurate data collection make Saudi Arabia a key focus for companies seeking to expand in the mining sector to secure future resource supplies,” added Alkhorayef.

He also underscored efforts to verify data through additional sampling and by concentrating on areas with the richest deposits, which enhances the credibility of Saudi mining data globally.

Saudi Arabia has implemented extensive geological survey projects, covering over 85% of the country’s territory through advanced geophysical and geochemical techniques.

Alkhorayef highlighted the General Geological Survey Program and the initiative to build a National Geological Data Repository. These efforts have increased the estimated value of the Kingdom’s untapped mineral resources from SAR 4.9 trillion in 2016 to SAR 9.4 trillion at the beginning of 2024.

At the ceremony, the Deputy Governor of Makkah Province unveiled the Saudi Geological Survey Authority’s new logo, reflecting its geological identity and ongoing efforts to map the Kingdom’s resources while promoting cultural and environmental awareness. The event also included recognition for the Authority’s founding committee members and ceremony sponsors.

Alkhorayef noted that the Authority has completed more than 500 specialized projects across various earth science fields. These include geological mapping at various scales, mineral exploration, geophysical, geochemical, and marine surveys, geological hazard monitoring and mitigation, and mining research and studies.

He pointed to the Authority’s emphasis on developing its human resources, recognizing that their dedication and expertise have been pivotal to its success and to earning widespread acclaim for its accomplishments.

In his remarks marking the Authority’s 25th anniversary, Alkhorayef acknowledged the significant national efforts in exploring mineral wealth over the past quarter-century.

These efforts have led to major discoveries that have positively impacted multiple sectors, he said, adding that discoveries of key minerals like phosphate, potassium, gold, and silver, as well as strategic mineral reserves, have bolstered investments and spurred the growth of the mining sector.