Saudi Television Manufacturing Company (Saudi-SAT) has signed an exclusive dealership agreement with Egypt - SAT Company under which 15,000 televisions manufactured by Saudi - SAT will be exported to Egypt in 2005 for SR60 million.
"The agreement was signed two days ago in Cairo. It is the first agreement to be implemented after the recent Arab free trade zone agreement that calls for customs exemption between Arab countries," said Ghazi Shalhoub, Chairman of the board of directors of Saudi-SAT. "These will be the first Saudi appliances in the Egyptian market and the first batch will be shipped next week," said Shalhoub to Arab News.
Saudi-SAT was established seven years ago. It has a manufacturing site in Jeddah which cost some SR600 million, according to Shalhoub. The company has already exported its products to Sudan and Syria.
