US trade mission to visit Saudi Arabia

US Acting Undersecretary of Commerce Ken Hyatt is heading 16 companies on a three-stop safety and security industry trade mission to Kuwait and Saudi Arabia.
The mission will introduce US’ firms to the regional security market and to assist companies in pursuing export opportunities in this sector. 
“The Gulf region represents enormous export potential for US companies,” Hyatt said. “The defense and security markets continue to grow globally, and firms on this mission are well-positioned to enter into partnerships with Kuwaiti and Saudi businesses and government. The Department of Commerce has a proven track record of providing export assistance to companies looking to enter or expand in target markets.” The mission will visit Kuwait City as well as Riyadh and Dhahran. At each stop, the acting undersecretary will meet with government officials and industry representatives to discuss trade priorities and potential areas of cooperation.
Throughout the mission, firms will gain insights on the region’s expanding markets, make industry connections, learn best practices, attend customized one-on-one business appointments, and create contacts with prospective partners. Companies will return with a deeper knowledge of the area and its dynamic growth in the security space.
The security and defense sector is a large and rapidly changing industry. Saudi Arabia has been the world’s biggest defense market for US exporters over the past two years, and it is forecast to procure $14 billion worth of security systems and services over the next three years.
The government of Kuwait is implementing a country-wide plan to significantly increase investment in safety and security equipment through 2020.
The trade delegation includes a diverse group of small- and medium-sized enterprises (SMEs) and large corporations.

Source: Arab News