How can Foshan enterprises effectively tap into the Middle East market? In order to enhance the stability and quality of Foshan's foreign trade and support local businesses' expansion in Saudi Arabian market, a specialized event titled "Seizing Opportunities in the Middle East: Collaborating for Success - Unveiling the Untapped Potential of the Saudi Arabian Market" was held at Foshan International Furniture Expo Mall on the afternoon of October 24. Esteemed entrepreneurs from the Middle East were invited to provide a comprehensive insight into the business environment and market opportunities in Saudi Arabia, aiming to further acquaint Foshan enterprises with the Saudi Arabian market and establish viable export channels.

Recently, the cross-border e-commerce market in the Middle East has been rapidly growing. According to forecasts from the International Trade Administration, its market value is expected to approach $70 billion by 2023. With a total population of 454 million in the Middle East, over half of the population form the primary consumer base for cross-border and mobile e-commerce. Additionally, the region boasts a near 100% internet coverage rate, providing a vast market space for cross-border e-commerce. Saudi Arabia, one of the wealthiest countries in the Middle East and one of the world's largest e-commerce markets, holds promising market potential.

To further enhance Foshan enterprises' exports to Saudi Arabia, the Foshan Municipal Bureau of Commerce outlined a strategic direction during the presentation. Foshan plans to strengthen the foundation of trade with Saudi Arabia and leverage the advantages of cross-border e-commerce. In the next steps, Foshan will encourage the development of cross-border e-commerce, support businesses in promoting themselves overseas through modern digital channels. Additionally, it will aid companies in expanding their Middle East customer base more widely and flexibly using various methods such as independent websites and social media.

Representatives from different companies delivered presentations on the Saudi business environment and overseas warehouse logistics for the largest cross-border e-commerce platform in the region. Through case studies and data analysis, they explored the potential of the Middle East market and highlighted the benefits of export cooperation, helping Foshan companies understand the local market and business environment while tapping into its potential.

Liang Huizhi, the representative of Foshan CRW Bathrooms Co., Ltd. said that the presentation was very informative. Firstly, it allowed her company to learn from businesses that have already entered into the Middle East market. Additionally, it provided valuable insights into the Middle Eastern market, helping companies to find cooperation opportunities in the Middle East area.

Reporter | Eleanor

Revisor | Eddie, Lynn

Photo丨Foshan News and Media Center