From 24 to 26 November 2023, the operator of state export support measures QazTrade will organise a trade and economic mission for Kazakh producers to Saudi Arabia, Riyadh, El.kz cites Ministry of Trade and Integration.
The purpose of the business trip is to establish co-operation with business partners from Saudi Arabia, hold negotiations with importers, traders and distributors, and agree on export supplies from Kazakhstan.
The potential of Kazakhstan's exports to Saudi Arabia is estimated at $428 million. Commodity producers can supply the market of the largest country of the Persian Gulf with domestic products of 75 items. Enterprises of metallurgical and food industries, in particular, meat products, honey, flour and confectionery products have great export potential.
To date, 34 Kazakh producers of meat and honey products have been included in the Register of Exporters of Saudi Arabia.
At the end of 2022, trade turnover between Kazakhstan and Saudi Arabia totalled $16.5 million, of which exports accounted for $4.7 million.
The KSA market may become the most promising for domestic exporters of food products, as the Arabian Peninsula country imports more than 80% of food for its own needs.
As part of the trade mission, «QazTrade» JSC covers the costs of participants' accommodation, transfers in the host country and interpreters for business meetings and B2B negotiations.