Riyadh, Aug 9, 2023, In an effort to enhance and foster robust bilateral trade relations, the esteemed Saudi Export Development Authority, widely recognized as "Saudi Exports," skillfully orchestrated a highly successful trade mission to the esteemed nation of Japan. The electrifying event, hosted in the bustling metropolis of Tokyo, centered around the enthralling concept of "Saudi Made." In an effort to enhance the diversification of the Saudi economy and elevate the international recognition of Saudi products, Saudi Exports has undertaken a strategic initiative to foster the growth and advancement of local exports. This initiative highlights the organization's unwavering dedication to empowering exporters and their offerings while simultaneously cultivating a formidable advantage for Saudi products in global markets. Through the demonstration of the exceptional quality and superior performance of Saudi merchandise, this initiative strives to fortify the standing of Saudi products on the international platform. More than 22 Saudi companies, along with an impressive 73 Japanese companies, predominantly involved in the services and food sectors, enthusiastically participated in the diverse initiatives of the trade mission. The active involvement of these companies is geared towards enhancing the vitality of economic and trade connections between the two nations. By exploring fresh avenues for collaboration, they are actively working towards enabling the smooth entry of domestic products and services into the highly promising Japanese market. Throughout the event, a multitude of bilateral and business meetings transpired, cultivating an environment that was highly conducive to fostering collaboration. Significantly, a number of noteworthy agreements and memoranda of understanding (MoUs) were signed between the Saudi and Japanese entities, further cementing their dedication to fostering collaborative efforts. Over the span of the previous five years (2018–2022), Saudi Arabia has successfully achieved a remarkable cumulative value of SR16.42 billion in non-oil exports to Japan. In the remarkable year of 2022, it is worth highlighting that the exports in question reached an impressive total of SR3.72 billion. The chemicals and polymer sectors have demonstrated an impressive display of economic prowess, positioning themselves as the primary drivers behind Saudi Arabia's non-oil exports to Japan. With an astounding valuation of SR1.72 billion, this thriving sector has undeniably solidified its unparalleled dominance in the global market. The construction materials sector has made a remarkable impact, contributing to exports valued at an impressive SR1 billion. The figures presented here serve as a testament to the remarkable progress and resilience of Saudi Arabia's non-oil sectors, showcasing their impressive capacity to thrive and excel in the global arena. The inclusion of Saudi Exports in the trade mission to Japan showcases a strong commitment to enhancing the capabilities of exporters and their products while simultaneously cultivating valuable relationships between exporters and potential buyers. This strategic decision not only showcases a wide range of potential export opportunities but also demonstrates the steadfast dedication of Saudi Exports to fostering and advancing global trade. The strategic focus on diversifying Saudi Arabia's export portfolio beyond oil and actively participating in global markets are pivotal drivers of economic expansion. In an admirable and forward-thinking decision, this undertaking represents a significant and impactful contribution to bolstering the overall vitality of the national economy. This aligns seamlessly with the objectives outlined by Saudi Exports, effectively translating the ambitious Saudi Vision 2030 into actionable steps. Through a strategic emphasis on expanding revenue streams, this visionary endeavor seeks to fortify the economic resilience of the nation, thereby securing a thriving and prosperous future for the esteemed Kingdom of Saudi Arabia.
Ahmed Saleh