More than 18 Companies from Saudi Arabia’s Building and Construction Sector are Taking Part in the 2023 Iraq Exhibition for Real Estate and Investment

The Saudi Export Development Authority (Saudi Exports) and the Ministry of Investment are collaborating to participate in the Iraq Exhibition for Real Estate and Investment 2023.

Saudi at Iraq Exhibition

The Saudi Export Development Authority (Saudi Exports) and the Ministry of Investment are collaborating to participate in the Iraq Exhibition for Real Estate and Investment 2023, taking place in Baghdad. The pavilion includes more than 18 Saudi companies specializing in the building, construction, real estate, and contracting sectors, showcasing their products and services under the “Made in Saudi Arabia” and “Invest in Saudi Arabia” identities.

The Iraqi exhibition is considered as one of the largest in the Middle East and North Africa, specifically specializing in building and construction materials, making it an important target for businesses operating in these sectors. The annual event brings together investors and professionals from the building materials sector in the Middle East, providing a platform for exhibitors to promote their projects, investments, products, and ideas, as well as form partnerships. The exhibition also provides insights into real estate trends, features, prices, and locations.

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The Saudi participation in the Iraq Exhibition aims to promote national goods and services and enhance their access to the Iraqi market, which is one of the most promising and targeted international markets for Saudi businesses. This collaboration between Saudi Exports and the Ministry of Investment is a positive step towards building stronger economic ties and creating opportunities for growth and development in the building and construction sectors.

Importance of Iraq Exhibition

The Saudi participation in the Iraq Exhibition for Real Estate and Investment 2023 is an important step towards strengthening the economic and trade relations between the Kingdom and Iraq. Through this participation, Saudi Exports and the Ministry of Investment aim to promote national goods and services and enhance their access to the Iraqi market, which is one of the most promising and targeted international markets.

The pavilion comprises more than 18 Saudi companies specialized in the building, construction, real estate and contracting sectors, which reflects the Kingdom’s commitment to diversify its economy and sources of income, in line with the objectives of the Kingdom’s Vision 2030.

The Saudi participation in the exhibition is also an affirmation of the efforts made by Saudi Exports and its partners to empower and support manufacturers and exporters in various sectors. It further underscores the remarkable growth in economic and trade relations between the Kingdom and Iraq since the establishment of the Saudi-Iraqi Coordinating Council in 2017.

Context

The establishment of the Saudi-Iraqi Coordinating Council in 2017 has led to significant growth in economic and trade relations between the Kingdom and Iraq. The council has facilitated investment opportunities in various sectors, including commercial, agricultural, and industrial fields, by removing barriers and encouraging investment in all areas of development, trade, and investment in both countries. As a result, trade between the two countries has increased substantially.

From 2018 to 2022, Saudi Arabia’s non-oil exports to Iraq reached a value of SAR 14.8 billion, with the building materials sector being the highest exporting sector with a value of SAR 4.4 billion.