Saudi group eyes EU carpet market
Riyadh, January 12, 2010
Saudi-based Al-Sorayai Trading and Industrial Group, one of the largest floor coverings manufacturers, said it plans to boost its exports to Europe market to meet the growing demand for high quality Saudi products, mainly carpets.
One of Saudi Arabia’s top 100 companies, Al-Sorayai Trading and Industrial Group, said it plans to leverage its high production capacities of 85 million sq m a year to respond to the increasing global demand.
Manufacturing industries across the Kingdom intend to increase their exports to European Union (EU) in order to meet the growing demand for high quality Saudi products. This move will help maintain the Kingdom’s status as one of the EU’s top 15 international trading partners, said a top official.
Europe is a particularly profitable target market due to the huge volume of its planned and ongoing construction activities, said Saleh Nasser Al-Sorayai, managing director, Al-Sorayai Trading and Industrial Group.
'Europe has been a lucrative market for us, even amidst the downturn. We intend to further expand our presence in the region, specifically by interacting with current and potential customers through high-profile industry events,' Al-Sorayai noted.
The Saudi manufacturer will be in Germany for Domotex Hannover, the world's leading trade fair for carpets and floor coverings which runs from January 16 to 19, with an eye on the strong demand for high-quality Saudi carpets.
'During the past years we have been attending Domotex Hannover to get a pulse of the international floorings trade. This year is of great significance because there are high expectations for at least moderate recovery across sectors that are linked to our line of business. We are highly prepared to meet demand should a strong market upswing occur,' he added.
The country is especially monitoring Europe’s construction industry, the region’s biggest sectoral employer and one of its major sources of gross capital. The European construction sector is expected to achieve market stability within 2010 and open up various opportunities in related businesses such as flooring and carpeting.
Prior to the full worldwide impact of the economic crisis towards late 2008, the global market value of the flooring and carpets trade was set to climb by 2.5 per cent annually and reach $150 billion by 2012.
Positive 2010 forecasts such as the UN World Tourism Organisation’s prediction of a 1 to 3 per cent growth in international tourism and the McGraw-Hill Construction Outlook 2010 Report’s expectation of increased construction activity are expected to boost demand for flooring materials and coverings.
Al-Sorayai is the first carpet manufacturing company in the Middle East to obtain ISO 9001-2000 certification.-TradeArabia News Service
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