Egyptian expo likely to generate SR190 million in business deals

JEDDAH, 17 October — The 11th Egyptian Products Exhibition, which is being opened here today, aims to promote trade between the Kingdom and Egypt.

Mustafa Naufal, commercial attache at the Egyptian Consulate in Jeddah, said the participants in the exhibition will mainly focus on making contracts and appointing agencies for their products in the Saudi market, rather than attempting to make direct sales. They are expected to generate deals worth SR190 million ($50 million). Direct sales to visitors will be allowed on the last days of the event in strict compliance with the Kingdom’s regulations governing the conduct of foreign exhibitions.

This year’s exhibition will also unveil new investment opportunities in Egypt for Saudi investors. This will also offer investment opportunities for Egyptian and Arab investors currently operating in the Kingdom.

Potential areas identified for investments are real estate, development of tourism projects, industries and agricultural projects.

The 260 companies participating in the current expo lasting 10 days represent the sectors of engineering industry, software, wooden furniture, furnishing, textiles, coach manufacturing and consumer products.

Naufal said the exhibitions have been regularly organized every year before Ramadan. The current exhibition is expected to attract more than half a million visitors, he added.

He said that the series of exhibitions being organized in both countries contributed remarkably to the growth of mutual trade.

The trade volume between the two countries crossed the $1.1 billion mark last year. In the same period, 64 new Saudi investment ventures were opened in Egypt.

Adil Abdul Shukoor, the managing director of the Saudi Exhibition Company, said this year’s exhibition was being held at Al-Hamra Hall for Exhibitions. Visitors will be welcome from 10 a.m. to 1.30 p.m. and 4 p.m. to 10 p.m. on all days.