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The Saudi Export Development Authority (SAUDI EXPORTS) has signed a memorandum of understanding (MoU) with Alibaba, in order to facilitate the global market access for Saudi products.
The MoU seeks to enhance the visibility of Saudi products on the Alibaba platform and provide improved opportunities for these products to reach a wider audience of global customers.
Further, the agreement aims to bolster Saudi exports by ensuring greater accessibility of these products to customers in international markets.
As part of the MoU, a dedicated section will be created on Alibaba’s platform specifically for Saudi companies that are registered with them, making it more convenient for purchasers seeking Saudi items.
Recently, the Saudi Ports Authority (Mawani) announced a 231 percent rise in import volumes of empty containers by shipping lines between January and May 2022 compared to the same period last year, rising from 20,985 TEUs to 69,429 TEUs.
The MoU was signed during the China-GCC Countries Forum on Industrial and Investment Cooperation. The Saudi Arabia’s Minister of Investment and head of the KSA delegation, Eng. Khalid Al-Falih attended the event and participated in the signing.
The Saudi Export Development Authority recently announced an increase in non-oil exports by stimulating exporters and facilitating the access of Saudi products to world markets through two routes.
The Authority will work on facilitating the creation of export opportunities, increasing the visibility of Saudi products, and linking exporters with potential importers and partners. The value of Saudi non-oil exports amounted to unprecedented levels in 2018, according to figures from the Saudi General Authority for Statistics (GaStat).
