11 Pakistani Companies Participating in Foodex Saudi 2018
AUG 27, 2018 (BE2C2): Jeddah will host on Nov. 12-15 the 6th edition of ‘Foodex Saudi’, in which 11 Pakistani companies will showcase their products among 600 international brands from more than 32 countries to attract influential Saudi food importers, distributors, and investors.
Shahzad Ahmad Khan, commercial consul in Jeddah of the Republic of Pakistan, said the Trade Development Authority of Pakistan (TDAP) will participate in Foodex Exhibition under Pakistan Pavilion.
Foodex Saudi is Kingdom’s leading international trade exhibition dedicated to the food and drink industry which last year attracted more than 80,000 attendees.
“We have been participating for many years and last year was the best participation as our 11 companies showcased leading brands in different sectors such as rice, bakery & confectionery, beverages, cosmetics & herbal products, spices and juices. The main reason to participate was an extraordinary support of Reed Sunaidi who acted as a partner for us.”
Last year in November, 11 Pakistani companies participated in the show and included the country’s top exporters dealing in rice, beverages, spices, bakery and confectionaries amid rising demand for diversity, branded and organic items in the local food market.
It is expected that majority of these companies will participate in the show after their success lat year. However, TDAP has not finalized and released the list yet.
According to recent statistics, the Kingdom imports about 70% of its food and spends about SR 87 billion ($83 billion) annually.
With growing demand at an annual rate of 18.5 percent due to an expanding domestic market on account of growing population and increasing annual pilgrimage, Saudi Arabia’s food and drink imports are likely to reach around $70 billion per annum in the next four to five years. Reliance on imports is also likely to increase as the Saudi government has decided to reduce wheat production to conserve water.
These developments offer a huge opportunity to Pakistani companies to further penetrate into the Saudi market and increase their market share. “Given the fact that Pakistan is an agricultural country, and more than 50 percent of its exports are agro- and textile-based, it has enormous potential to increase its exports by tapping into the halal food market of Saudi Arabia, which currently imports more that 80 percent of its total food and beverage requirements,” Khan said during last year’s show.
Last month the consulate organized a highly successful Chauna Mango Branding event in Jeddah with the aim to boost export of king of fruits — an initiative the TDAP has taken worldwide since last year. For the first time, nearly 10,000 tons of Pakistani mangoes are being exported to China.
Govt Announces Task Force to Boost IT/Telecom Sector, Expected to Add $6 Billion in Export
ISLAMABAD (Nov 15, 2018): With the IT sector growing at a fast pace, Imran-Khan ledRead More
Why ‘Almost All’ Pakistani Banks Were Hacked
Most Pakistani banks maintain only minimum security for its website transactions–the compromise was detected onlyRead More