The Saudi Export Development Authority (Saudi Exports) has signed a memorandum of understanding (MoU) with Chinese tech company, Alibaba, in Xiamen, China, that is aimed at facilitating the global market access for Saudi products, a report said.

The MoU seeks to enhance the visibility of Saudi products on the Alibaba platform and provide improved opportunities for these products to reach a wider audience of global customers, Saudi Press Agency, SPA, said.

The agreement aims to bolster Saudi exports by ensuring greater accessibility of these products to customers in international markets.

As part of the MoU, a dedicated section will be created on Alibaba's platform specifically for Saudi companies that are registered with them, making it more convenient for purchasers seeking Saudi items.

The MoU was signed during the China-GCC Countries Forum on Industrial and Investment Cooperation, which was held in Xiamen on May 23-24.

The Minister of Investment and head of the Saudi delegation, Eng Khalid Al-Falih, attended the event and participated in the signing.