M. SADIQ SOHAIL AND MOHAMMED A. BURNEY, KING FAHD UNIVERSITY OF PETROLEUM & MINERALS, SAUDI ARABIA
Abstract : Over the past decade, world trade has almost doubled from $7 trillion to more than $13 trillion, and Saudi Arabia is by far the largest trading country in the Middle Eastern region, with total trade volume in excess of $102 billion. Saudi Arabia’s lucrative market presents both challenges and opportunities for exporting companies. Many companies have been disappointed with the nature of the market and competition that has turned to be far fiercer than initially anticipated. However, decades of experience has shown that by adopting well focussed strategies it is possible for global exporters to penetrate the Saudi market. This paper reviews economic and market perspectives of the Saudi marketplace. It discusses important considerations for formulating guidelines for exports of goods and services to Saudi Arabia. Finally, this paper proposes a set of key strategies to enable exporting companies to enter and sustain business in Saudi Arabia.
Keywords : International trade; export; guidelines; strategies; Saudi Arabia