Saudi Arabia Has Potential to Lead Global Coffee Industry Trade

The International Forum for the Sustainability of Saudi Coffee concluded on Sunday in Jazan. (Asharq Al-Awsat)
The International Forum for the Sustainability of Saudi Coffee concluded on Sunday in Jazan. (Asharq Al-Awsat)
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Saudi Arabia Has Potential to Lead Global Coffee Industry Trade

The International Forum for the Sustainability of Saudi Coffee concluded on Sunday in Jazan. (Asharq Al-Awsat)
The International Forum for the Sustainability of Saudi Coffee concluded on Sunday in Jazan. (Asharq Al-Awsat)

The International Forum for the Sustainability of Saudi Coffee highlighted the Kingdom’s potentials to be a global hub for the trade and manufacture of coffee.

The forum, which concluded on Sunday, was organized by the Ministry of Culture in the southern city of Jazan with the participation of local and international experts to mark International Coffee Day.

A set of recommendations were issued at the end of the event, including the importance of Saudi Arabia joining the International Coffee Organization to promote the exchange of experiences, enhance the presence of the local product internationally, and cooperate in the field of research, innovation and development of national capabilities.

The forum stressed the need to help farmers improve production and boost the sector’s sustainability, and to support the innovation and entrepreneurship industry that would contribute to addressing challenges related to strengthening the Saudi coffee value chain.

The participants recommended organizing an annual international forum for Saudi coffee to discuss the achievements, challenges and aspirations, in partnership with the local community, and to study the launch of cultural indicators in cooperation with stakeholders, with the aim to monitor support for the coffee industry.

The second day of the forum concluded with two dialogue sessions that focused on the participation of government and research agencies in the field of coffee industry, in addition to examining the field from a medical angle, and its benefits on the health of the individual and society.

At the beginning of the first session, Dr. Al-Habib Khemira, researcher at the Center for Environmental Research and Studies at Jazan University, reviewed the main Saudi coffee varieties and their cultivation through different stages.

Eng. Bandar Al-Fifi, Director of the National Coffee Component at FAO, stated that coffee was the most consumed beverage around the world. He noted that the average daily demand for coffee consumption was increasing annually, which requires raising the production to meet the high demand.

He also emphasized the importance of teaching the next generation about farming to secure growth for the industry.

Radi Al-Faridi, deputy director general of the National Research and Development Center for Sustainable Agriculture, discussed the importance of cooperation of all authorities in agricultural integration.

“The definition of agricultural sustainability encompasses all environmental, social and economic aspects,” Al- Faridi said.

“Currently coffee is considered the second-largest traded commodity in the world after oil, with the global coffee market value reaching $102 billion in 2020. It is expected that the market will continue to grow to reach a rate of 4.28 percent during the period 2022-2026,” he said.

Moreover, he remarked that as the expansion in the coffee market increases so will the pressure on coffee supply chains.

The last session of the forum concluded with a working paper by researcher Ghadeer Fallata, from the Saudi Food and Drug Authority.

She pointed that around 43 percent of Saudi adults consume caffeine at a rate of less than 300 mg per day, highlighting an increasing growth of commercial activities related to coffee shops.

“There has been steady growth of commercial activities related to cafes, as the Kingdom ranked 11th globally in 2019 in importing tea products, 13th in importing coffee products, and 14th in importing chocolate,” she added.



Saudi EXIM Hosts Global Risk Experts Meeting in Riyadh

The event gathered specialists from 47 organizations from 33 countries; it served as a platform for discussing strategies, partnerships, and innovative solutions. - SPA
The event gathered specialists from 47 organizations from 33 countries; it served as a platform for discussing strategies, partnerships, and innovative solutions. - SPA
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Saudi EXIM Hosts Global Risk Experts Meeting in Riyadh

The event gathered specialists from 47 organizations from 33 countries; it served as a platform for discussing strategies, partnerships, and innovative solutions. - SPA
The event gathered specialists from 47 organizations from 33 countries; it served as a platform for discussing strategies, partnerships, and innovative solutions. - SPA

The Saudi Export-Import Bank (Saudi EXIM) hosted the Berne Union's Country Risk Specialist Meeting, providing a platform for experts and thought leaders in risk management from the export credit community.
At the meeting, which took place from November 19 to 21 in Riyadh, the attendees exchanged best practices to better protect the industry amid shifting global dynamics.
According to a statement issued by the Saudi EXIM on Saturday, the event gathered specialists from 47 organizations from 33 countries; it served as a platform for discussing strategies, partnerships, and innovative solutions.
By strengthening institutional resilience, the industry is ready to turn global economic challenges into opportunities for economic prosperity, said the statement, adding that it played a crucial role in advancing global trade, strengthening international cooperation, and developing credit solutions that empower export activities while controlling risk, SPA reported.
According to the statement, discussions centered on critical risks impacting international trade and the global economy, such as debt sustainability and geopolitical tensions, along with innovative approaches to risk modelling. Participants also explored the global shifts in infrastructure, energy and critical minerals sectors, and were given an overview of Saudi Arabia's National Industrial Strategy, which focuses on economic diversification through investments, developing new sectors, and promoting local industries.
In his opening remarks, Saudi EXIM CEO Eng. Saad bin Abdulaziz Al-Khalb said the meeting is an ideal platform to address risks impacting global economic decision making.
He stated: "Through such meetings, we can turn challenges into strategic opportunities and enhance our resilience in an ever-changing world. At Saudi EXIM, we remain committed to enabling companies by offering expert financial and non-financial solutions to navigate risks effectively."
He also said that "at Saudi EXIM, we place great emphasis on risk management. In alignment with the main objective of this meeting, I am pleased to announce the completion of our independent country risk model, which is supported by advanced modelling tools and machine learning. This model will provide country ratings and predictions of default risks. We look forward to collaborating with our partners in other export credit agencies to exchange knowledge and expertise, and to strengthening our risk management functions with greater responsibility and effectiveness."
Associate Director at Berne Union Eve Hall said: "The global risk landscape today is highly volatile and highly interconnected. As we navigate our way around the ongoing transformations connected to energy transition and shifting industrial strategies, the traditional concept of 'country risk' is becoming increasingly complex. Our industry excels at understanding, quantifying and pricing these risks, and by bringing together this community of experts for technical exchange the Berne Union is able to help support the development of the industry as a whole. The initiatives announced by our colleagues at Saudi EXIM, making use of new technology in risk analysis, provide a fantastic example of where collaboration in this field can be effectively applied."
The statement disclosed that Saudi EXIM's membership in Berne represents a significant strategic step, and is consistent with the Kingdom's commitment to expanding collaboration and integration in the global economy.
This is achieved by building partnerships with leading institutions to address the challenges facing the export credit sector. It also aligns with the bank's goal of developing the export of national products and services through partnerships with national and international financial and funding organizations.
Berne Union works with global trade organizations to encourage the adoption of best practices in export credit insurance, and to cooperate in maintaining the stability of global trade.
Saudi EXIM, a development bank under the National Development Fund, contributes to diversifying the Kingdom's economic base by improving the efficiency of non-oil export ecosystems, bridging financial gaps, and minimizing export risks. This plays a role in helping the non-oil national economy grow, in line with Vision 2030.