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The Saudi Export Development Authority (Saudi Exports), in partnership with the Ministry of Investment, is participating in the “Iraq International Real Estate and Investment 2023” exhibition held in the Republic of Iraq “Baghdad” from 01-04 May, with national participation under the identities of “Made in Saudi Arabia” and “Invest in Saudi Arabia.” , with a pavilion that includes more than 18 Saudi companies specialized in the construction, real estate and contracting sectors, and a golden sponsor for the exhibition; With the aim of promoting national goods and services, and enhancing their penetration into the Iraqi market as one of the most important promising and targeted international markets.
The “Iraq International Real Estate and Investment 2023” exhibition is considered one of the largest exhibitions specialized in building and construction materials in the Middle East and North Africa, and one of the strongest markets for the building and construction sector, building materials and infrastructure, as it brings together annually those interested and investors in the building materials sector in the Middle East. This year, the exhibitors promote their projects, present their investments and products, display early ideas, and form strong partnerships. The exhibition also targets real estate professionals and investors in this field, and sheds light on real estate trends, features, prices, and locations, and opens up investment possibilities for them in an unprecedented way.
The Saudi participation in the Iraq International Real Estate and Investment Exhibition 2023 is an extension of the historical, commercial and economic relations between the Kingdom and Iraq, and an affirmation of the efforts made by Saudi exports and its partners in order to enable and support manufacturers and exporters in various sectors. To enhance and facilitate the process of trade exchange between them as one of the most important regional markets targeted to increase the market shares of national goods and services, and within its 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, in line with the plans to diversify the economy and sources of income that pursued by the Kingdom of Saudi Arabia, in accordance with the objectives of the Kingdom’s Vision 2030.
It is noteworthy that the Kingdom of Saudi Arabia’s non-oil exports to the Republic of Iraq recorded during the past five years (2018-2022) a value of 14.8 billion riyals, in which the “building materials” sector came as the highest exported sector during the period, with a value of 4.42 billion Saudi riyals.
Economic and trade relations between the Kingdom and Iraq also witnessed remarkable growth following the establishment of the Saudi-Iraqi Coordination Council in 2017; Which contributed to the increase of trade exchange, and the availability of investment opportunities in
All fields, including the commercial, agricultural and industrial fields, where the Council worked to remove all obstacles and encouraged investment in all areas of development, trade and investment available in the two countries, and raising the level of trade between them.
