Saudi firms attend Iraqi exhibition

A delegation of 18 Saudi construction and real estate companies, along with the Saudi Export Development Authority and the Ministry of Investment, are attending the Iraq International Real Estate Investment 2023 Exhibition in Baghdad. The event is considered one of the largest gatherings of companies specialising in building and construction materials in the Middle East and North Africa region. The companies are there to promote national goods and services and penetrate the Iraqi market.

The event provides an opportunity for the Saudi delegation to promote the “Made in Saudi Arabia” program in the region. The aim is to reveal insights into the latest trends in real estate, construction, pricing and realty investments. Saudi firms are participating in the event to promote national goods and services and penetrate the Iraqi market, seen as one of the most promising opportunities in the region.

The Saudi pavilion is hoping to attract investment for the Kingdom’s construction sector. The Saudi-Iraqi Coordination Council was established in 2017, opening significant investment avenues in various fields, including commerce, agriculture and industry. The bilateral trade relationship between the countries received a major boost, with the Kingdom’s non-oil exports to Iraq reaching SR14.8 billion ($3.95 billion) during the past five years, with the building materials sector recording the highest export volume of SR4.42 billion.

The Saudi Export Development Authority is promoting Saudi companies and providing them access to more promising markets in line with the plans to diversify the economy and sources of income in accordance with the objectives of the Kingdom’s Vision 2030 initiative. The delegation is looking forward to boosting its growing economic relations with Iraq, and this event provides a platform to further explore opportunities in the region.