BUSINESS OPPORTUNITIES IN SAUDI ARABIA We received a communication from our Mission in Saudi Arabia on the business opportunities in Saudi Arabia and the top exhibitions which are scheduled to take place in Saudi Arabia. Saudi Arabia is largest market in MENA region and offers huge business opportunities for the growth of Indian exports and business. Due to its relative political stability and high growth rate, Saudi Arabia will continue to be a lucrative market for varied products and services as it invests to upgrade its infrastructure. Presently, the government is pouring in billions of dollars in diversifying its economy. Such massive investments in transportation, property constructions, water and power plants will in turn drive opportunities for other sectors. The Kingdom is offering great business and investment opportunities and there is a large scope for major Indian companies to operate in the Kingdom. However it is noted that the presence of Indian companies in Saudi Arabia is less than optimum. One of the best ways to penetrate highly profitable Saudi market is to regularly and aggressively participate in prominent exhibitions being organized in Saudi Arabia and display our goods and services. Some of the important exhibitions which are scheduled to be held in Jeddah are Machinex Arabia, Propac Arabia, Textiles Arabia, Saudi Building & Interior Exhibition, Saudi International Motor Show, Jeddah International Trade Fair, Foodex Saudi, Deco Fair etc. Enclosed herewith are factsheets on 10 important exhibitions held in Jeddah. Bilaterally, two countries are progressing towards higher trade and commercial interaction. The bilateral trade between two countries has doubled in three years period from US$ 21 billion in 2009-10 to US$ 43 billion in 2012-13. ASSOCHAM organized participation of 30 Indian companies in one of the biggest exhibitions ie “Jeddah International Trade Fair” in Jeddah in December 2013. Recently, the Union Finance Minister of India Shri P. Chidambaram visited Kingdom of Saudi Arabia from 27th January to 28th January, 2014 to co-chair the 10th India-Saudi Arabia Joint Commission Meeting (JCM) along with Dr Tawfiq bin Fawzan Al Rabiah, Saudi Commerce and Industry Minister. They reviewed the progress in various sectors including Trade and Investment; Oil and Gas; Pharmaceuticals, Higher Education; Civil Aviation; Tourism and Media and Culture; Security Affairs; Information and Communication Technology, Vocational and Technical Training; Textiles, Engineering Affairs, Health & Family Welfare; Agriculture Research and SMEs. The Crown Prince His Royal Highness Prince Salman bin Abdulaziz Al Saud visited India from February 26-28, 2014. His visit gave fillip to trade, investment and security ties between two countries. In view of above, members having bisiness interest in the region and are interested in participating in the exhibitions are requested to kindly contact the organizers.
Posted on: Mon, 10 Mar 2014 12:37:28 +0000
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