Saudi Industrial Export Company (SIEC), a leading exporter and importer of wide-ranging products such as petrochemicals, fertilisers, metal products, textiles and food products, among other things, is extending its marketing network through the opening of storage facilities in Singapore and Dubai.

The Riyadh-based company, which provides a total package to parties it trades with including arranging for financing, sees opening the new facilities as another step towards raising its trading volumes, forging links with new and profitable markets and generally expanding its influence in the business world.
The company was formed in 1990 as a joint stock company by leading industrial, commercial and financial entities of Saudi Arabia.
The company claims it has devised a marketing strategy designed to suit each market taking into account country risks. It also assures its partners complete logistic services including shipping, loading, supervision, documentation and management of payment procedures.
Its services include offering of tailor-made payment instruments that will meet the specific requirements of both sellers and buyers.
“Financing has become a key element in international trading and SIEC has been in the forefront of this development,” it says.  “The company has succeeded in providing its customers with unique and relevant arrangements. The pattern of such services also covers facilities for manufacturers to purchase  raw materials. This includes accepting a wide range of payment terms, unconfirmed credits and the provision of bid and performance bonds.”
The company is represented by its long-term associates in many markets, some of which are Dubai, Tehran, Kuala Lumpur, Mumbai, Cairo, Addis Ababa, Yemen, Algeria, Sudan, Jakarta and Libya.
“The geographical coverage of SIEC is comprehensive and global,” says the company, adding it has serviced the needs of customers in countries as far apart as China and Brazil and covering both developed and developing markets in several regions.
“The fundamental and most important strategy SIEC follows is not to compete with existing distributors but to strengthen them by providing world-class facilities and services,” it says.
The company explains that it utilises warehousing and distribution facilities in each market in partnership with local traders for mutual benefit.