Over 60 Qatari firms join trade mission to Saudi Arabia: QDB Official

Mubarak Mohammed Al-Hajri, Senior Export Matchmaking Officer

Qatar Development Bank (QDB) seeks to boost the volume of trade exchange between Qatar and Saudi Arabia, which witnessed a surge last year, said Mubarak Al Hajri, QDB Senior Financial Advisor.

On the sidelines of the Qatari trade mission to Saudi Arabia, Al Hajri said the Qatar Exports office was officially inaugurated in Riyadh to support Qatari companies.

This comes after the office initially began operations online in 2023, registering over 60 Qatari companies in the Kingdom, the official said, adding that these companies participated in major projects such as NEOM, ROSHN, Riyadh Park, and The Avenues complex.

Al Hajri pointed out that the infrastructure sector is one of the most prominent areas that Qatari companies focus on in the Saudi market, especially in light of the major development projects witnessed by the Kingdom.

A total of 28 Qatari companies took part in infrastructure projects during the 2022 World Cup, said the official, noting that the Qatari experience in this field may be a model that can be used in the Saudi market.

He further stressed that the Qatari trade mission to the Kingdom aims to boost trade and investment cooperation between the two countries, noting that it came after an in-depth, six-month study of the Saudi market, which focused on aligning trade opportunities with the Kingdom's Vision 2030.

According to Al Hajri, the study included more than 350 stakeholders and resulted in identifying 30 categories of products and seven categories of Qatari services that can enter the Saudi market. He also said that the trade mission includes 36 Qatari manufacturing and service companies.

The trade forum, held during January 28-29, features bilateral meetings between buyers and sellers on its first day. Meanwhile, the second day will witness field trips to introduce Qatari companies to the Saudi market. The event relies on more than 40 reports and export guides to support Qatari exporters, the official stated.

He said that this mission is the largest in QDB history in terms of the number of participants.