The Council of Saudi Chambers said it will orchestrate a Saudi-Canadian meeting next week in Riyadh with business leaders from both nations - the first of its kind since Justin Trudeau became Canada’s Prime Minister.
Emad Al Thukair, who serves as chair of the Saudi-Canadian Business Council (SCBC), said he was optimistic about the increasingly cooperative climate between the two nations with regard to economic collaboration, following the kingdom’s recent establishment of the Public Authority for Small and Medium Enterprises (SMEs).
Since SMEs comprise more than 90 percent of the Saudi market and over one-third (37 percent) of its GDP, the collaboration is auspicious for Saudi development in the global sector. Topics at the meeting will cover investment possibilities in both nations and financing incentives, with specific focus on health care, information technology, communications, training, education, manufacturing, mining and agriculture.
SCBC hopes to reinforce Saudi Arabia’s relationship with Canada and foster an atmosphere of collaborative information sharing with an eye toward mutual growth and sustainability.
At the same time, the kingdom plans to continue its internal support of private sector enterprises by offering a selection of financing programs to encourage Saudi entrepreneurs.
“Canada’s expertise in the SMEs sector will help us develop ours, and create effective partnerships between our two countries,” Al Thukair said. Canada supports approximately 2.6 million small and medium businesses.