Posted by Bob Brunskill
UAE firms have reportedly closed over AED 100 million worth of export opportunities to Saudi Arabia in 2011 as a result of their participation in the recently concluded Saudi Build 2010, the Middle East's largest construction and building material exhibition in the region.
Dubai's Export Development Corporation (EDC) also stated that it had supported 50 local companies from the field of building, construction and real estate at the exhibition.
According to EDC's Dubai Export Monitor, direct exports and re-exports to Saudi Arabia in 2009 reached AED 2.09 billion and AED 3.34 billion, respectively.
"EDC's participation at the show is one of its supports to UAE companies in expanding their presence and increasing their export opportunities in regional markets such as Saudi Arabia, which is one of the top destinations for Dubai exports," commented Saed Al Awadi, chief executive officer at EDC.
"Through this exhibition, we are strengthening our trade relations with Saudi Arabia by enhancing awareness on the products and services our local companies can provide in this sector."
The news comes after the Dubai Airport Free Zone Authority recently reported on the results of a seminar held jointly with the EDC which sought to outline the export facilitation services available to its members.