As the global economy expands and international cooperation strengthens, Saudi Arabia is positioning itself as a formidable force in the worldwide trade landscape, with its economic influence reaching unprecedented levels. The African market has become a focal point for Saudi non-oil exports, revealing clear economic opportunities and burgeoning trade connections.
The Kingdom’s ties with Africa are historically robust and well-established. Saudi Arabia stands as the Middle East and North Africa’s largest economy and was the fastest-growing economy within the Group of Twenty (G20) in 2022. Africa’s strategic significance, along with its vast economic and human resource potential, makes it a continent of opportunity, boasting an economy around $3 trillion in value. In an effort to foster mutual advancement and prosperity, Saudi Arabia and African Union nations are intent on bolstering their relationships.
The Saudi Exports Development Authority, known as SAUDI EXPORTS, is actively engaging with the African continent to address its diverse market needs and future ambitions. The authority is committed to reinforcing economic cooperation, expanding Saudi non-oil exports, and introducing Saudi products and services to the promising African marketplace.
One of the most notable achievements includes the exportation of SAR128 billion worth of non-oil Saudi goods to Africa over the last five years (2019 – 2023). Leading the non-oil export categories, the chemicals and polymers sector saw exports surpass SAR83 billion. This was followed by construction materials at over SAR10 billion, and the packaging sector at beyond SAR9 billion. Key exports included polypropylene, polyethylene, and fertilizers, with Egypt, Algeria, South Africa, Morocco, Sudan, Kenya, and Nigeria among the 55 importing African nations.
SAUDI EXPORTS is dedicated to increasing the volume of non-oil exports to African countries by organizing trade missions to nations such as South Africa, Kenya, Egypt, Morocco, and Libya, facilitating business matching meetings with prospective buyers. Additionally, participation in numerous specialized international exhibitions across the African continent allows Saudi exporters to display their offerings and forge commercial agreements that widen their export footprint.
Planned exhibitions for this year include the African Food Exhibition 2024, the International Exhibition for Processing and Packaging in the Middle East and Africa 2024 in Egypt, the Buildexpo Africa – Kenya 2024, and Gitex Africa in Morocco. Companies interested in these events can register through the authority’s digital portal.
To prepare exporters, SAUDI EXPORTS provides vital information, studies, and identifies export opportunities through in-depth research on countries and commodities. It also facilitates market entry and discovers apt export opportunities in Africa. By conducting workshops and various training programs, such as the recent virtual workshops ‘Empowering Exports in Pakistan, South Africa, Ethiopia, Kenya, and Nigeria’ and ‘Empowering Exports in North African Countries: Egypt, Morocco, Algeria, and Tunisia’, the authority aims to build capabilities and address challenges faced by exporters, having resolved over 270 issues to date, including customs, financial, and logistical hurdles.
Furthering the Saudi-African alliance, the SAUDI EXPORTS continues to foster relations in myriad sectors. The Saudi-African Summit, convened in Riyadh on November 10, 2023, sought to reinforce strategic ties and celebrate the growing trade, particularly in non-oil sectors. His Royal Highness the Crown Prince announced substantial investment initiatives for Africa, encompassing a $25 billion investment package for varied sectors, $10 billion in export finance and insurance, and $5 billion in development funding over six years. The summit saw the signing of numerous agreements and memorandums of understanding, totaling over $500 million in value.