The Saudi Export Development Authority is one of the vital entities in the Kingdom, aiming to promote and develop Saudi exports to global markets. The Authority was established in 2018, as part of the Kingdom’s Vision 2030, which aims to diversify the economy and reduce dependence on oil.
Authority Objectives
The Authority seeks to achieve a set of main objectives:
- Increasing exports: The Authority aims to raise the percentage of non-oil exports, which contributes to improving the Kingdom’s trade balance.
- Supporting the private sector: The Authority works to provide support and facilities to local exporters, including providing consultations and training programs.
- Enhancing competitiveness: The Authority seeks to improve the ability of Saudi products to compete in global markets by raising the quality of products and developing brands.
- Developing new markets: The Authority aims to explore new markets for Saudi products, which contributes to opening new channels for trade.
- Strategic Partnerships Program: It aims to build cooperative relations with other countries to enhance exchange Commercial.
- Conferences and Exhibitions: Organizing local and international events and exhibitions to introduce companies and exporters to available opportunities.
- Research and Development: Supporting innovation by promoting research and development in the industrial sector, which contributes to the production of competitive products.
- Global Competition: Saudi products compete with products from other countries with high quality and competitive prices.
- Marketing: Companies need effective marketing strategies to reach international markets.
- Infrastructure: Enhancing exports requires improving the logistics and transportation infrastructure.
Programs and initiatives
To implement its objectives, the Authority has launched several programs and initiatives, including:
Challenges
Despite the achievements made by the Authority, it faces several challenges:
Conclusion
The Saudi Export Development Authority is an important tributary to the national economy, as it plays a fundamental role in achieving the goals of the Kingdom’s vision 2030. By supporting exporters and enhancing the competitiveness of Saudi products, the Authority seeks to achieve sustainable development and enhance the Kingdom’s position in global markets. The challenges facing the Authority require concerted efforts from all concerned parties to ensure the success of this ambitious vision.