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Hannun added that the agency offers incentives for foreign companies. He believes this is an example of the evolved relations between both countries that permeated the mission organized by the Brazilian government.
Hannun signed the document with Arab News deputy editor in chief Tarek Mishkhas. It is available in Portuguese, English and Arabic. Its goal is to promote communication between Brazilians and Arabs. Related Posts.
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Value Added Distributor Strategic. Digitization Strategic. Innovation Strategic. Contact Us. If you need help, please click here:. Local manufacturing, which includes production of starches from rice and potatoes, grain and rice milling e. Saudi Arabia imports a significant amount of confectionery products, partially due to large local demand, especially for Chocolate. Moreover, the segment has large demand across the region.
Partnering with major suppliers of raw materials at competitive prices and expanding the production of chocolate and biscuits will enable Saudi Arabia to increase exports to these target markets. Local manufacturers have developed significant expertise in terms of efficiency and the manufacturing process.
In addition, the Kingdom also possesses developed distribution networks as well as state-of-the-art technologies. Considering these factors Saudi Arabia possess a significant comparative advantage in this segment to increase local and regional market share.
Another avenue for development would be through low-value high-volume date exports to Islamic countries across the Middle East and North Africa, Asia, and Sub-Saharan African regions. Poultry production is a well-established segment in the Kingdom possessing strong processing capabilities.
The current increase in global demand for Halal products provides the Kingdom with the opportunity to become an exporting hub for such products. Despite certain challenges related to climactic conditions, this segment can still grow through investments in advanced processing machinery and cold chains. The Kingdom plans to invest in aquaculture which will provide for significant opportunities to expand exports to new markets.
Another avenue for development in this segment would be a focus on convenience seafood products such as frozen seafood which can help grow exports, particularly in light of recent consumer trends. While this segment is met mostly through local production, the segment should be preserved while the products offered should reflect rising health consciousness among consumers.
Due to limitations concerning agricultural activities, unrefined and refined oils are largely imported. This exposes the Kingdom to price risk related to the volatility of the price of imports and supply risk. Given that the global food and beverage market is growing both globally and locally, the Kingdom aims to capitalize on this lucrative sector by expanding local production in the segments where competitive advantages exist, as well as tackle certain challenges currently faced by food processors.
A focus on the production of dairy, seafood, and date products in addition to positioning Saudi Arabia as a Halal meat hub, is an essential part of the strategy. Additionally, the Kingdom aims to provide food processors with the support needed to facilitate growth in several the key sectors, while also maintaining currently established sectors.
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