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MONDAY, December 11, 2023

Business matching in Saudi Arabia and Egypt a success: DITP

Business matching in Saudi Arabia and Egypt a success: DITP
WEDNESDAY, September 20, 2023

Trade negotiations with buyers in Saudi Arabia and Egypt have led to sales of over 261 million baht, according to Phusit Rattanakul, director-general of the Commerce Ministry’s Department of International Trade Promotion (DITP).

The business matching events, which took place last month, were undertaken in collaboration with the Office of Trade Promotion in Jeddah and Cairo with the aim of facilitating trade between Thai entrepreneurs and buyers from Saudi Arabia and Egypt. The focus was on expanding exports of halal food products, fruits, household items, and automotive parts.

Consul General Kittinai Nuntakul attended the opening ceremony on August 26 at The Venue Jeddah Hotel, with the Saudi-Thai business matching 2023 event attracting 26 Thai companies and more than 200 Saudi importers, resulting in purchases worth approximately US$5.25 million or around 183.75 million baht. The overall satisfaction of the entrepreneurs with the event exceeded 97%.

The Thai-Egyptian B2B (business-to-business) matching event, meanwhile, was held on August 29 at the Cairo Marriott Hotel, with Phutthaporn Iwratkasan, Thailand’s ambassador to Egypt, presiding over the opening. The event involved 25 Thai companies and over 100 Egyptian business leaders, resulting in purchases worth approximately US$2.21 million or around 77.31 million baht. Business operators also expressed high satisfaction with the event, averaging over 98%.

Total purchase orders during these events amounted to US$7.46 million, or about 261 million baht. Products of interest included bathroom amenities, car parts, fresh and processed fruits, and halal food products.

The DITP also conducted market surveys in Jeddah and Cairo, focusing on three product groups: halal food products, construction materials and electrical appliances, and automotive parts. The surveys looked at what products were available on the market and introduced Thai products to key importers in important trade areas.

Meetings were also arranged with key importers from the two countries including managers from Luluhypermarket hypermarkets in Saudi Arabia and Egypt.