The Saudi Export Development Authority (Saudi Exports), in partnership with the Ministry of Investment, participates in the Iraq Exhibition for Real Estate and Investment 2023, which is held in the Republic of Iraq’s capital Baghdad from 1 to 4 May.
With national participation under the identities of “Made in Saudi Arabia” and “Invest in Saudi Arabia”, the pavilion comprises more than 18 Saudi companies specialized in the building, construction, real estate and contracting sectors.
The Iraqi exhibition is considered one of the largest specialising in building and construction materials in the Middle East and North Africa, and one of the strongest markets for the building and construction, building materials and infrastructure sectors.
It annually gathers investors in addition to those interested in the building materials sector in the Middle East. In its 2023 edition, the exhibition allows exhibitors to promote their projects, present their investments, products and early ideas, and form strong partnerships.
The exhibition also targets real estate professionals and investors in this field, sheds light on real estate trends, features, prices and locations.
The Saudi participation aims to promote national goods and services and enhance their access to the Iraqi market as one of the most important promising and targeted international markets.
The Saudi participation in the exhibition is an extension of the historical, commercial and economic relations between the Kingdom and Iraq.
It is also an affirmation of the efforts made by Saudi Exports and its partners to empower and support manufacturers and exporters in various sectors.
Moreover, the participation aims to enhance and facilitate the process of trade exchange between the Kingdom and Iraq, which is one of the most important regional markets targeted to increase market shares for national goods and services.
It further comes as part of the Saudi Exports’ main roles in enhancing the brand of the Kingdom’s non-oil exports and enhancing its position by promoting it and facilitating its access to more promising markets.
This is being achieved in line with the plans to diversify the economy and sources of income pursued by the Kingdom, in accordance with the objectives of the Kingdom’s Vision 2030.
Economic and trade relations between the Kingdom and Iraq have witnessed remarkable growth since the establishment of the Saudi-Iraqi Coordinating Council in 2017.
This has contributed to increasing trade exchange and provided investment opportunities in all fields, including commercial, agricultural and industrial fields, as the Council has eliminated all obstacles, encouraged investment in all areas of development, trade and investment available in the two countries, and raised the level of trade between them.
From 2018 through 2022, Saudi Arabia's non-oil exports to Iraq recorded a value of SAR 14.8 billion, topped by building materials sector as the highest exporting sector with a value of SAR 4.4 billion.