The Saudi Export Development Authority (Saudi Exports) is leading a market access tour to Oman from December 29 to 31, 2024, aimed at expanding opportunities for Saudi non-oil exports, particularly in logistics, telecommunications, IT, consulting, and medical services.
Riyadh, December 30, 2024 — The Saudi Export Development Authority (Saudi Exports) is currently organizing a strategic market access tour to Oman from December 29 to 31, 2024, as part of its ongoing efforts to enhance the international reach of Saudi products and services. The tour, which aims to open new trade opportunities for Saudi non-oil exports, is designed to strengthen economic ties between Saudi Arabia and Oman, while boosting the Kingdom’s presence in the regional and global markets.
During the three-day visit, representatives from leading national companies in the logistics, telecommunications, information technology, consulting, and medical services sectors will showcase their innovative products and solutions to both public and private sector entities in Oman. The initiative is intended to facilitate direct engagement between Saudi businesses and their Omani counterparts, creating valuable partnerships that can drive economic growth and foster increased trade between the two nations.
The tour’s focus on key sectors such as logistics and IT underscores Saudi Arabia’s growing capacity to export highly competitive services across the Gulf, regional, and global markets. The Saudi services export sector has seen impressive growth, with the value of exported services reaching an all-time high of SAR 182 billion in 2023, marking a remarkable 40% increase compared to the previous year. This exceptional growth highlights the significant strides Saudi Arabia has made in diversifying its economy beyond oil, and its growing role as a key player in the global services export market.
Several leading Saudi service companies and government entities are taking part in the Oman tour, reflecting the collaborative spirit between Saudi public and private sectors. This unified approach aims to establish a strong, lasting presence in the Omani market, which is considered one of the most promising in the Gulf region. By expanding their market share in Oman, these Saudi companies are positioning themselves to meet the rising demand for quality services in sectors such as healthcare, technology, and logistics, which are critical to Oman’s ongoing economic diversification efforts.
The Saudi Exports Authority’s tour to Oman is also aligned with Saudi Vision 2030, which seeks to reduce the Kingdom’s dependence on oil and increase the contribution of non-oil exports to the national economy. By facilitating access to regional markets like Oman, the Authority is actively contributing to the Vision’s goals of achieving sustainable economic growth, diversifying income sources, and reinforcing Saudi Arabia’s position as a global economic hub.
The tour also serves as a testament to Saudi Exports’ continued commitment to enhancing market access for Saudi businesses, both within the Gulf Cooperation Council (GCC) region and beyond. As global trade dynamics continue to evolve, initiatives like this tour play a crucial role in ensuring that Saudi companies can tap into new opportunities, expand their reach, and build robust networks that will sustain long-term growth.
By fostering closer trade ties with Oman, this tour not only underscores the strength and competitiveness of Saudi services but also highlights the deepening economic cooperation between Saudi Arabia and its neighbors, paving the way for a more integrated and resilient regional economy.
As Saudi Exports continues to work towards increasing the Kingdom’s global footprint, the Oman tour stands as a key step in expanding the horizons of Saudi services and ensuring they are recognized as among the best in the world. The collaboration between Saudi businesses and their Omani counterparts is expected to yield positive outcomes, driving economic diversification, fostering new business opportunities, and contributing to the realization of Vision 2030’s ambitious goals.