7 September 2024 12:44 am Views - 73
By Nuzla Rizkiya
The Export Development Board (EDB), in collaboration with the Sri Lankan Embassy in the Kingdom of Saudi Arabia (KSA), has organised a five-day outward trade delegation to promote Sri Lankan food and beverage (F&B) products in the Saudi Arabian market.
The programme aims to expand Sri Lanka’s F&B portfolio in the KSA market, which is recognised as the largest market for the sector in the Middle East, with an estimated value of US $ 23.48 billion in 2024.
The country also has the largest natural and organic food market in the region, valued at US $ 54.2 million, along with a projected growth of 17.4 percent by 2026.
Accordingly, the EDB has invited applications for the programme from local producers and exporters specialising in F&B products of interest to the KSA market such as canned foods, dehydrated fruits and vegetables, coconut value-added products, value-added spices, spice mixtures and essential oils.
Moreover, the small and medium enterprises (SMEs) producing kithul products, natural fruit juices, confectioneries, bakery items, ready-to-eat products, king coconut water, natural beverages and other potential F&B products, are invited to take part in the programme.
Interested applicants are to download their application forms from the EDB website and submit them to the board via registered post by September 18, 2024.
The EDB will select eight to 12 suitable candidates to participate in the programme and has offered to consider providing financial assistance for a portion of the airfare for one representative per selected SME company.
Additionally, the EDB will also cover the cost of the meeting venues, internal travel and other logistical arrangements in KSA.
Key highlights of the EDB delegation programme include opportunities to form direct business linkages (B2B) with identified food and beverage import companies and key supermarket chains in KSA as well as openings to connect with other importers and distributors through two chambers in Dammam and Riyadh.
The programme will also feature organised visits to selected food production facilities, networking sessions with potential investors and industry leaders and the development of a new platform to introduce innovative local products to the Saudi market.