30Export, Almarai Sign SAR60M MoU to Boost Saudi Exports

30Export and Almarai signed a SAR60 million memorandum of understanding (MoU) in Riyadh on July 17, 2024, to boost the international purchasing power of high-quality Saudi national products. The agreement, announced by the Saudi Press Agency (SPA), aims to expand the reach of Saudi-made goods in global markets, marking a significant step in the Kingdom’s efforts to diversify its economy and promote non-oil exports under Vision 2030.

Context and Background

The MoU was signed by Ali Al-Malki, general manager of 30Export, and Abdullah bin Nasser Al-Bader, chief executive of Almarai, in the presence of Bandar bin Ibrahim Alkhorayef, Minister of Industry and Mineral Resources, and Eng. Abdulrahman bin Suleiman Al Thukair, chief of the Saudi Export Authority (Saudi Exports). This partnership reflects Saudi Arabia’s ongoing commitment to empowering local industries and enhancing their competitiveness on the world stage.

30Export is one of the export houses licensed by Saudi Exports, a government authority dedicated to supporting local factories in expanding their operations and increasing export opportunities. By connecting manufacturers with licensed export house companies, Saudi Exports facilitates access to global markets and provides essential services to help Saudi products reach international consumers.

Key Details

The SAR60 million MoU is designed to increase the purchasing power of Saudi national products abroad, particularly those of Almarai, a leading Middle Eastern food and beverage company. Under the agreement, 30Export will leverage its export expertise to serve as a commercial intermediary, ensuring that high-quality Saudi goods are efficiently delivered to end importers worldwide.

Thamer Al-Mishrafi, spokesman for Saudi Exports, praised the agreement, stating that it contributes to empowering the brand of Saudi non-oil exports in global markets. He highlighted that the export houses service, launched last year on the sidelines of the second annual Made in Saudi exhibition, is a key initiative to provide qualitative services and programs for exporters. Al-Mishrafi explained that licensed export houses are companies with proven export experience that act as commercial intermediaries, offering a range of services across the export value chain to help local products reach international markets.

Saudi Exports is keen to explore all available avenues of support to enhance the global reach of national products and services. This aligns with the Kingdom’s broader goal of diversifying national income sources and raising the proportion of Saudi non-oil exports to at least 50% of total non-oil GDP by 2030.

Implications and Impact

This MoU is expected to have a positive impact on Saudi Arabia’s non-oil export sector by strengthening the presence of Saudi brands in international markets. It underscores the Kingdom’s strategic focus on economic diversification and the development of non-oil sectors. For Almarai, the agreement provides a platform to expand its global footprint, while for 30Export, it reinforces its role as a key facilitator of Saudi exports.

On a regional and international level, the MoU signals Saudi Arabia’s growing integration into global trade networks and its commitment to exporting high-quality products. It also demonstrates the effectiveness of Saudi Exports’ initiatives in empowering local factories and enhancing their export capabilities, which is crucial for achieving the goals of Vision 2030.

Vision 2030 Alignment

This agreement directly supports Saudi Vision 2030’s objective of increasing non-oil exports and diversifying the economy away from oil dependence. By boosting the purchasing power of national products abroad, the MoU contributes to the Kingdom’s long-term vision of becoming a global export hub and enhancing its economic resilience. Through such partnerships, Saudi Arabia continues to strengthen its position in international markets and drive sustainable economic growth.

20 Questions

Q1. What is the value of the MoU signed between 30Export and Almarai?

A1. The MoU is worth SAR60 million, aimed at increasing the purchasing power of high-quality national products outside Saudi Arabia.

Q2. Who signed the MoU on behalf of 30Export?

A2. Ali Al-Malki, the general manager of 30Export, signed the MoU.

Q3. Who represented Almarai in the signing of the MoU?

A3. Abdullah bin Nasser Al-Bader, the chief executive of Almarai, signed the MoU.

Q4. Which Saudi minister attended the signing ceremony?

A4. Bandar bin Ibrahim Alkhorayef, Minister of Industry and Mineral Resources, attended the signing ceremony.

Q5. What is the role of Saudi Exports in this agreement?

A5. Saudi Exports empowers local factories to expand and increase export opportunities by linking them with licensed export houses like 30Export.

Q6. What are export houses in the context of Saudi Exports?

A6. Export houses are licensed commercial intermediaries with export experience, qualified by Saudi Exports to provide services that help local products reach global markets.

Q7. When was the export houses service launched by Saudi Exports?

A7. The service was launched last year on the sidelines of the second annual Made in Saudi exhibition.

Q8. What is the main goal of the MoU?

A8. The MoU aims to increase the purchasing power of high-quality national products outside the Kingdom of Saudi Arabia.

Q9. How does the MoU contribute to Saudi non-oil exports?

A9. It empowers the brand of Saudi non-oil exports in global markets, helping to diversify national income sources and raise non-oil exports to 50% of non-oil GDP by 2030.

Q10. What did Thamer Al-Mishrafi say about the agreement?

A10. He praised it for contributing to empowering Saudi non-oil exports globally and highlighted Saudi Exports’ commitment to providing qualitative services for exporters.

Q11. Which company is Almarai?

A11. Almarai is a leading Saudi food and beverage company, known for its high-quality dairy and juice products across the Middle East.

Q12. What is the significance of the MoU for Almarai?

A12. It allows Almarai to expand its global footprint by leveraging 30Export’s expertise to reach international markets more efficiently.

Q13. How does Saudi Exports support local factories?

A13. Saudi Exports links local factories with licensed export houses to provide services across the export value chain, facilitating access to global markets.

Q14. What is the target for Saudi non-oil exports by 2030?

A14. Saudi Arabia aims to raise non-oil exports to at least 50% of total non-oil GDP by 2030.

Q15. Where was the MoU signed?

A15. The MoU was signed in Riyadh, as reported by the Saudi Press Agency (SPA).

Q16. What is the role of 30Export in the agreement?

A16. 30Export acts as a licensed export house, undertaking the export process and providing services to help Saudi products reach end importers globally.

Q17. How does this MoU align with Vision 2030?

A17. It supports economic diversification by boosting non-oil exports, a key objective of Vision 2030 to reduce oil dependence.

Q18. Who is Eng. Abdulrahman bin Suleiman Al Thukair?

A18. He is the chief of the Saudi Export Authority (Saudi Exports), who attended the MoU signing.

Q19. What benefits do licensed export houses provide?

A19. They offer various services at the value chain level of exports, helping local products reach global markets and enhancing export movement.

Q20. What is the expected impact of the MoU on Saudi exports?

A20. It is expected to strengthen the presence of Saudi brands internationally, boost non-oil exports, and contribute to economic growth under Vision 2030.

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