SAUDI ARABIA - Reed Exhibitions has entered the international race for the Saudi exhibitions market by signing a strategic partnership with Sunaidi Expo, a subsidiary of Saudi's Alfadl Group.
It is Reed's first step into the Saudi market and will be followed by the launch of a number of international events in Jeddah from 2012.
Jeddah, considered Saudi Arabia's trade centre, has seen a great deal of development in recent years as part of efforts to reinforce its economic role. Important projects underway in the city include the King Abdul Aziz airport and the Jeddah Islamic Port, the main import destination for Saudi Arabia, handling almost two thirds of its imports by sea.
President of Reed Exhibitions Middle East Frederic Theux said the Saudi market, being the biggest in the region, is of key importance for Reed's future business in the region.
"We are confident that [the Saudi market] will further thrive in light of the new steps taken by the Saudi Government to achieve social and economic development in the Kingdom," he said. "We have chosen Jeddah to be Reed's entry point to the Saudi market because it is one of the most important trade, economic and investment hubs in the region."
The exhibition industry in Saudi Arabia, particularly in Jeddah, is experiencing remarkable growth andtaking advantage of the big increase in business in the Kingdom. The country’s GDP bypassed one trillion Saudi riyal in 2010, making it the largest Arab economy.
The alliance with Alfadl will form an important addition to Reed's existing operations in Abu Dhabi and Dubai.
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