REACHING THE SAUDI ARABIAN MARKET
Saudi Arabia is a country full of actual and potential business and
investment opportunities. However, it should be noted that the Saudi Arabian
market is highly competitive and business transactions take place on the basis
of quality and cost. In addition to the availability of an advanced and
continually upgraded infrastructure, the following factors facilitate foreign
investments in Saudi Arabia:
- Free entrepreneurial spirit, respect for private ownership and an
energetic private sector.
- Availability of capital, convertibility of the Saudi Riyal to hard
currencies and stability of exchange rates.
- Protection of trade marks, patents and copy rights.
- Absence of controls on capital movement and repatriation of profits.
- Availability of an advanced and excellent banking system.
- A liberal tax system.
ESTABLISHING BUSINESS CONTACTS
Foreign individuals or firms contemplating doing business in or wishing
to export their products to Saudi Arabia are required to look for a Saudi
Arabian partner, an import agent or local representative in close proximity to
the Saudi Arabian market. See the standard form of "CONTRACT OF AGENCY OR
DISTRIBUTORSHIP"
Establishing personal and direct contacts with the Saudi business community
is the key to business success in the kingdom. When contemplating doing business
in Saudi Arabia, potential investors are urged to make use of the following
channels of business contacts:
- The Saudi Chambers of Commerce and Industry located in the major urban
centers of the Kingdom should be contacted, as a matter of priority, to find
a representative, distributor, partner or agent in Saudi Arabia. Names of
various products and Saudi importers of those products could also be
obtained directly from these Chambers. Credibility reports about prospective
Saudi business partners are often available at these Chambers. A list of
Saudi Chambers of Commerce and Industry with their addresses and telephone
numbers is supplied.
- The Saudi Chambers of Commerce and Industry publish trade directories of
their respective business communities. These can be obtained by contacting
the appropriate Chamber directly.
- Various advertising agencies, newspapers
and internet marketing services providers in the Kingdom should be
contacted to utilize their services for advertising export products.
Additionally, some of the major Chambers of Commerce and Industry, located
in important urban centers, have their own periodicals and may publish, upon
request and for a fee, information relating to commercial offers, "Wanted"
advertisements and others. all of these services could be arranged for your
company trough our own company by emailing our marketing
department with your specific requests also you are welcome to use our
Business
Opportunity section and our
Classifieds
section.
- In addition to its role as a part of the Kingdom's diplomatic mission to
any foreign country, the Commercial Office of the Royal Embassy of Saudi Arabia in
your country, provides the business community with information about Saudi
business regulations and procedures, and means of doing business in the
Kingdom. It also facilitates commercial contacts, sponsors Saudi business
shows, exhibits and trade missions to the foreign countries, participates in seminars,
meetings, conferences, etc., that promote Foreign-Saudi business and trade, and
mediates commercial disputes between Foreign and Saudi companies, if both
parties are willing to cooperate in order to reach an out-of-court amicable
solution.
- Foreign firms are encouraged to take advantage of the opportunity to attend
trade shows or to participate in Foreign trade missions to Saudi Arabia. for
American companies The
Office of the Near East, at the U.S. Department of Commerce (14th Street and
Constitution Ave., N.W., Washington, D.C. 20230, Tel: (202)482-870) offers
market information, identifies trade leads and promotes trade shows and U.S.
trade missions to Saudi Arabia. Information regarding U.S. trade with Saudi
Arabia and related Department of Commerce services is available via the
automated Flash Fax hot line, which may be accessed by dialing
(202)482-1064. In addition, the Department's District Offices provide a
number of export promotion services, including the Agent/Distributor
Service, which identifies Saudi Arabian agents/distributors who are
capable of handling your business matters in the Kingdom, and the World
Traders Data Report, which evaluates potential trading partners
overseas.
- It is advisable to personally visit the Kingdom to establish direct
contacts with the Saudi business community. In order to obtain a short visit
business visa, normally valid for one to three months, the nearest Saudi
Arabian Royal Embassy or Consulate should be contacted. (A list of Saudi
Arabian Embassy or Consulate
Offices in the U.S. is provided, and a list of Saudi
Diplomatic Missions in the rest of the world is
provided.
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