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A Delegation of Abu Dhabi Exporters Holds over 40 Meetings, Enters into Partnerships and Concludes Agreeemnts with Saudi Firms

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A Delegation of Abu Dhabi Exporters Holds over 40 Meetings, Enters into Partnerships and Concludes Agreeemnts with Saudi Firms

Monday, October 22, 2012
A delegation comprising representatives of exporting companies in Abu Dhabi has concluded a two-day successful visit to the Kingdom of Saudi Arabia under the auspices of the Department of Economic Development in Abu Dhabi in cooperation with the Abu Dhabi Chamber and the Higher Corporation for Specialized Economic Zones. A delegation of the Abu Dhabi exporters successfully entered into partnerships and concluded agreements following a series of meetings and field visits to over 40 companies, businessmen, distributors and representatives of major private companies and Saudi governmental entities concerned with infrastructure projects and development in the kingdom. Dr. Adeeb Al Afifi, Director of the Foreign Trade Export Support in DED, emphasized the Abu Dhabi government's keenness to achieve diversified economy with multiple resources by promoting opportunities of trade exchange with regional countries and creating strategic partnerships for the private sector so as to serve as a solid pillar towards the fulfillment of balanced and sustainable economic development. He said that the exporter delegation's visit to Riyadh was successful in boosting bilateral relations between private companies from both sides, especially in the economic areas that are expected to contribute to raising trade exchange rates between the two fraternal countries. Al Afifi pointed out that the Kingdom of Saudi Arabia is ranked among the top ten trade partners of Abu Dhabi in the region and the world at large as regards imports and non-oil exports. He indicated that several local exporters have shown interest in obtaining trade and investment opportunities in the Saudi market that is rich in the opportunities and development projects. He added that this is the second time for DED to arrange for visits to be made by the companies and factories in Abu Dhabi to the Kingdom of Saudi Arabia. However, the results achieved were good and distinguished, especially in the sectors of construction, building, building materials and logistic services. Dr. Adib Al Afifi emphasized that the exporter delegation members have expressed their delight and immense satisfaction at the results achieved, represented in their success in entering into partnerships of joint investment ventures with Saudi businessmen and investors who showed great interest in importing Emirati products as well as establishing mutual partnerships with the aim of meeting the needs of Saudi markets in the coming period. He revealed that companies backed by the Khalifa Fund for Enterprise Development have been successful in signing agreements with distributors from Saudi Arabia to market their products in major Saudi cities, something considered to be a great success for the Abu Dhabi government's efforts towards the development of small- and medium-sized enterprises.  The representatives of these companies have expressed their deep satisfaction at finding the opportunities to make their products known to major Saudi companies such as Aramco, SABIC, Zamil, Al Jomaih Shell, Al Olaibi Group and others, something that led to an initial agreement to conclude mutual agreements in the next few days. He added that what is distinguished about this visit is that the delegation companies have been able to hold a series of meetings with decision-makers in Saudi companies, which, in turn, paved the way for direct and serious negotiations either for the purchase or for benefits they can derive from the opportunities offered by Saudi companies. The Director of the Foreign Trade and Export Support Division said that the visit which the Abu Dhabi exporters’ delegation paid to Riyadh has reflected the great interest of the Saudi traders and distributors in the products of the Abu Dhabi local companies. They showed remarkable enthusiasm about such visits and encouraged longer stay in the kingdom in order to expand the scope of meetings with the largest number of representatives of Saudi companies so as to publicize the Emirati high quality products and businesses, and to hold more talks between the two sides in order to expand partnerships between them. Dr. Adib Al Afifi expressed his gratitude to the government entities in the Kingdom of Saudi Arabia for the warm reception and hospitality they extended to the Abu Dhabi trade delegation. The delegation met with senior government officials in the trade sector in the kingdom, most notably His Excellency Eid Abdul-Hadi Al Olaibi, deputy manager of the Land Transport Committee in the Riyadh Chamber of Commerce and Industry (RCCI), who was eager to meet with the official delegation, businessmen and owners of local firms in order to exchange viewpoints.His Excellency Eid Al Olaibi had met with government officials from DED, the Abu Dhabi Chamber and the Higher Corporation for Specialized Economic Zones with the aim of reviewing the trade information necessary for increasing the Abu Dhabi companies and factories' exports to the Kingdom of Saudi Arabia and getting acquainted with their major imports from the global markets. During the meeting, His Excellency briefed the Abu Dhabi delegation on a set of laws and measures that regulate the process of imports in Saudi Arabia, particularly in economic sectors from which Emirati companies and factories can derive benefits in the Kingdom of Saudi Arabia, a market deemed highly competitive in terms of both quality and price value.
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