Riyadh – Sharikat Mubasher: A total of 75 Qatari companies are preparing to enter the Saudi market after finalizing their preparations.
These companies have undergone a comprehensive program organized by the Qatar Development Bank (QDB) to familiarize themselves with the requirements and conditions of the Saudi market, opening new opportunities for Qatari exporters in one of the region's largest markets, according to Al Eqtisadiah.
Ali Sultan Al Kuwari, Senior Manager of Export Development at QDB, stated: "At Qatar Development Bank, we strive to create opportunities for exporters in priority global markets. As part of this effort, we have organized workshops across various sectors to clarify the requirements of the Saudi market and identify available opportunities for exporters, enhancing their competitiveness in Saudi Arabia."
A workshop held last week focused on explaining the conditions and standards necessary for entering the Saudi market. The discussions covered regulatory and logistical aspects, as well as strategies to help Qatari companies compete effectively in the market.
This initiative is part of QDB’s strategy to boost non-oil exports and diversify Qatar's economy in line with the Qatar National Vision 2030.
Economic ties between Qatar and Saudi Arabia are witnessing significant growth, with bilateral trade reaching approximately QAR 2.2 billion.
In August 2024, Saudi Arabia’s exports to Qatar amounted to SAR 372.9 million, while its imports from Qatar totaled SAR 247.3 million, resulting in a trade surplus of SAR 125.6 million.
The Qatari companies entering the Saudi market operate across a range of sectors, including food industries, construction, technology, and renewable energy.
Experts believe this sectoral diversity will strengthen economic partnerships between the two countries, particularly with the increasing demand for innovative products and services in the Saudi market.
This move is expected to pave the way for further initiatives to enhance bilateral trade and support private sector growth in both nations.
