Saudi Arabia market update 2017

Saudi Arabia market update 2017
 

14 September 2017

Innovative New Zealand companies are starting to do business in the Kingdom of Saudi Arabia, reflecting the growing diversity of New Zealand’s export companies, as well as social and economic changes in Saudi, says Chris Tozer, NZTE Trade Commissioner in Riyadh. 

Speaking during a regular webinar series to provide an update on the KSA, Chris says people in the Kingdom see changes every day, from social events like COMICON and Monster Truck rallies, to a government commitment to create employment opportunities for Saudi women. 

The webinar, run in partnership with Saudi market entry consultancy, Arabian Enterprise Incubators, delves deeper into the changing Saudi economy, the national and regional political situation and what these developments mean for New Zealand companies interested in Saudi Arabia. 

Food and beverage makes up a large proportion of New Zealand’s NZD524 million annual trade with Saudi Arabia, but Saudi’s focus on growth and diversification is leading to interest in New Zealand’s service, technology, and education and training companies. 

Many of the changes and growth taking place in Saudi are driven by the KSA’s Vision 2030 reform programme, which was launched last year and is already having a big impact. The main objectives of the programme are to diversify the economy away from oil and to create employment opportunities for Saudi nationals. 

Read the 'Doing business in the Kingdom of Saudi Arabia' audio transcripts