Saudi Arabia Showcases Aquaculture Opportunities at Global Fishery Forum

Saudi Arabia participated in the Global Fishery Forum and Seafood Expo 2024, held in the Russian Federation from September 17 to 19, 2024, showcasing its growing aquaculture sector and seeking to expand seafood exports to Russian and broader international markets. The Saudi delegation included key government and private sector entities, underscoring the Kingdom’s commitment to developing its fisheries industry in line with Vision 2030 goals.

Context and Background

The Global Fishery Forum and Seafood Expo is a major international event that brings together industry leaders, policymakers, and experts to discuss sustainable fishing practices, aquaculture innovations, and trade opportunities. Saudi Arabia’s participation reflects its strategic focus on diversifying its economy and enhancing non-oil exports. The Kingdom’s fisheries sector has been identified as a priority area for development under Vision 2030, with the goal of increasing domestic production and becoming a leading exporter of high-quality seafood.

Key Details

The Saudi delegation was led by the Ministry of Environment, Water, and Agriculture, with participation from the National Program for the Development of the Fisheries Sector, the Saudi Exports Development Authority, the Agricultural Development Fund, and King Abdullah University of Science and Technology (KAUST). Dr. Ali Al-Shaikhi, Undersecretary of the Ministry for Fisheries and Livestock Wealth, highlighted that the participation aimed to support private sector companies in marketing fishery products in priority global markets and opening new markets such as Russia. He noted that this is an opportunity to deliver farmed fish products from Saudi Arabia to more than five countries affiliated with the Russian Federation.

International Impact

During the forum, meetings were held with major investors and relevant government agencies from the Russian side to enhance investment opportunities and trade exchange between the two countries. This engagement is part of Saudi Arabia’s broader efforts to strengthen international partnerships and position itself as a reliable supplier of seafood products. The Russian market presents significant potential for Saudi aquaculture exports, and the Kingdom’s participation is expected to pave the way for increased bilateral trade and investment in the fisheries sector.

Vision 2030 Alignment

Saudi Arabia’s participation in the Global Fishery Forum and Seafood Expo 2024 aligns with Vision 2030’s objectives to diversify the economy, boost non-oil exports, and promote sustainable development. By showcasing its aquaculture opportunities and fostering international collaborations, the Kingdom is advancing its goal to become a global leader in the fisheries industry, contributing to food security and economic prosperity. This initiative also supports the National Program for the Development of the Fisheries Sector, which aims to increase production to 600,000 tons annually by 2030 and create thousands of job opportunities for Saudi citizens.

20 Questions

Q1. What event did Saudi Arabia participate in recently?

A1. Saudi Arabia participated in the Global Fishery Forum and Seafood Expo 2024, held in the Russian Federation from September 17 to 19, 2024.

Q2. Who led the Saudi delegation to the forum?

A2. The delegation was led by the Ministry of Environment, Water, and Agriculture, with participation from the National Program for the Development of the Fisheries Sector, the Saudi Exports Development Authority, the Agricultural Development Fund, and KAUST.

Q3. What was the primary goal of Saudi Arabia’s participation?

A3. The primary goal was to support private sector companies in marketing fishery products in priority global markets and opening new markets such as the Russian market.

Q4. Who is Dr. Ali Al-Shaikhi?

A4. Dr. Ali Al-Shaikhi is the Undersecretary of the Ministry of Environment, Water, and Agriculture for Fisheries and Livestock Wealth.

Q5. How many countries affiliated with the Russian Federation could receive Saudi farmed fish?

A5. Saudi Arabia aims to deliver farmed fish products to more than five countries affiliated with the Russian Federation.

Q6. What meetings were held during the forum?

A6. Meetings were held with major investors and relevant government agencies from the Russian side to enhance investment opportunities and trade exchange between the two countries.

Q7. What is the National Program for the Development of the Fisheries Sector?

A7. It is a Saudi initiative focused on promoting investment opportunities and highlighting the Kingdom’s efforts to support and develop the aquaculture industry and seafood products industry.

Q8. Why is the Russian market important for Saudi Arabia?

A8. The Russian market presents significant potential for Saudi aquaculture exports and is a priority for expanding trade and investment in the fisheries sector.

Q9. What role does KAUST play in Saudi Arabia’s aquaculture development?

A9. KAUST contributes through research and innovation in aquaculture, supporting sustainable practices and technological advancements in the sector.

Q10. How does this participation align with Vision 2030?

A10. It aligns with Vision 2030’s objectives to diversify the economy, boost non-oil exports, and promote sustainable development in the fisheries industry.

Q11. What is the target for Saudi fisheries production by 2030?

A11. The National Program for the Development of the Fisheries Sector aims to increase production to 600,000 tons annually by 2030.

Q12. What are the main types of seafood products Saudi Arabia is promoting?

A12. Saudi Arabia is promoting farmed fish products and other seafood items from its growing aquaculture industry.

Q13. How does the Agricultural Development Fund support the fisheries sector?

A13. The fund provides financial support and incentives to farmers and investors in the fisheries sector to enhance production and sustainability.

Q14. What is the significance of the Global Fishery Forum?

A14. It is a major international event that brings together industry leaders to discuss sustainable fishing practices, aquaculture innovations, and trade opportunities.

Q15. How many Saudi entities participated in the forum?

A15. Four key entities participated: the National Program for the Development of the Fisheries Sector, the Saudi Exports Development Authority, the Agricultural Development Fund, and KAUST.

Q16. What benefits does Saudi Arabia expect from opening new markets?

A16. Saudi Arabia expects increased exports, enhanced bilateral trade, and greater investment in its aquaculture sector, contributing to economic diversification.

Q17. What is the role of the Saudi Exports Development Authority?

A17. It supports Saudi companies in exporting their products to global markets, including facilitating access to new markets like Russia.

Q18. How does aquaculture support food security in Saudi Arabia?

A18. Aquaculture increases domestic seafood production, reducing reliance on imports and ensuring a stable supply of high-quality protein for the population.

Q19. What kind of investment opportunities does Saudi Arabia offer in aquaculture?

A19. Saudi Arabia offers opportunities in fish farming, processing, technology, and infrastructure, with support from government programs and funds.

Q20. What is the expected outcome of Saudi Arabia’s participation in the forum?

A20. The participation is expected to strengthen trade ties with Russia, open new markets for Saudi seafood, and attract investment to the Kingdom’s fisheries sector.

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