Chinese firms to target Saudi construction market
China's building materials market turns its attention to Saudi Arabia
China’s Ministry of Commerce is increasing awareness of the investment opportunities for Chinese building material companies to supply Saudi Arabia's booming construction sector, according to China Daily.
Xie Zhongmei, director of the ministry's department of West Asian and African Affairs, said that Chinese companies should be more aware of the high demand for building materials in Saudi Arabia,which is expected to commission more than $100bn of new construction projects by 2016.
Both the Ministry and the China Chamber of Commerce of Metals, Minerals and Chemicals will be teaming up to promote the country’s building materials and other construction-related sectirs in December through the third China Commodities Expo-Saudi Arabia in Riyadh.
Chairman of the Chamber, Chen Feng, said: "The fair will help promote brand recognition for made-in-China products and hopefully help us build a future platform for suppliers and buyers."
China and Saudi Arabia have historically shared a healthy trade relationship, which has seen a 30% year-on-year increase in trade in the first six months of 2012 to $38bn.