Saudi food provider Goody has signed a contract with the Iraqi National Company to market and distribute its food products in Iraq.
The agreement comes as part of a large Saudi-Iraqi event titled “One Family Brought Together on a Dining Table” which saw other Saudi and Iraqi companies sign deals.
The event aims to bolster bilateral relations between the two Arab countries and is in line with the National Transformation Programme 2020 and the Saudi Vision 2030, according to Saudi Gazette.
Goody is a subsidiary of the Basamh Trading and Industries Group, whose CEO Khalid Temairik said he was glad that his company was “the first Saudi company to conduct food trade in Iraq as part of the new commercial relations between the two countries.”
The top official further noted that the Iraqi market has around 38 million in potential consumers, who spend 50% of their income on food.
“In five years, we are aiming to obtain a share equal to half of our Saudi business. We are honoured to work with the Iraqi National Company, and we look forward to reaping the fruits of our cooperation in the near future,” Temairik highlighted.
Goody will customise some of its products to be suitable for Iraqi market.
Meanwhile, Omar Rajeh, secretary general advisor at the Saudi Exports Development Authority, stated that the authority was looking to see further economic cooperation between Saudi Arabia and Iraq, including more Saudi companies operating in Iraq in the near future.
“As one of the largest distributors and marketers of food products in Iraq, we will use our advanced capabilities and do everything in our power to bring the family together on a dining table featuring delicious foods produced by Goody,” managing partner and CEO at Iraqi National Company Abdulmotalib Alathari noted.