Source: Trade Arabia
UAE firms are expected to increase exports of local products and services to Saudi Arabia’s booming construction sector over the coming year, a senior official said.
The comment follows an extensive business matchmaking event, organised by Dubai Exports, an agency of the Department of Economic Development (DED), at the Saudi Build 2011, a major construction and building materials exhibition.
The event served as an important venue for mutual trade cooperation between companies from both countries including discussion of government facilities and services provided by Dubai Exports.
Engineer Saed Al Awadi, chief executive officer, Dubai Exports, said Saudi Arabia’s booming building and construction sector provided potential opportunities for UAE exports.
“Our successful participation at Saudi Build signifies a continuous growth of the country’s exports in the construction and building materials sectors. The business matchmaking event, one of our supports to UAE companies, provided them with a venue to meet with key buyers which aims to increase their export opportunities in regional markets such as Saudi Arabia,” he said.
The matchmaking event, which was attended by 35 local companies and more than 35 major Saudi buyers, resulted in sales and business leads of export opportunities.
“We are keen to enter new markets for our companies at Dubai Investment Park and Saudi Build is an important exhibition for us to introduce our products to the Kingdom as well as enhance the awareness of the services our companies can provide to the construction sector. We have had remarkable success in our latest participation at Saudi Build and Dubai Exports’ support and the matchmaking event it organised was key in closing deals during the show,” said Abdul Aziz Al Serkal, chief executive officer, Masharie, the private equity arm of Dubai Investments.
Saudi Build 2011, the largest business to business construction fair in the kingdom, provided contractors, real estate developers and building owners with a full range of building solutions.