The Saudi Exports Development Center has initiated a program to increase non-oil exports. It has called upon all factories to benefit from the program by getting finance for non-oil exports. Exporters have also been asked to provide the Center with a contact list of clients so that they can be contacted and briefed about the program. Eid Abdul Rahman Al-Qahtani, Executive Director of the Center, called upon all Saudi exporters and exporting factories that are not members of the Center and are interested in direct financing, to register in the Saudi Exports Program by filling the on-line registration form. He said the the World Trade Organization (WTO) membership has resulted in increased competitiveness within the country and abroad. He said the budget of the Saudi Exports Program, an affiliate of the Saudi Development Fund at the Ministry of Finance, has been increased from SR2 billion to SR15 billion for financing Saudi non-oil products. The financing of exports is available with very easy conditions as direct financing for Saudi exporters themselves or indirect financing for foreign importers of Saudi products through banks in their countries. The Saudi Exports Development Center took the initiative to contact the foreign importers directly to urge them to benefit from the conditional exports program by importing Saudi products through the signing of programmed financing agreements with banks in their countries. A ccording to the new strategy, the center has started direct contacts with foreign importers in countries with promising markets to promote the financing program. Al-Qahtani said the Saudi Exports Development Center is contacting factories by monitoring the increase in sales.
