The U.S. Chamber of Commerce partnered with Committee for International Trade at the Council of Saudi Chambers to organize a gathering of CEOs from the two countries on Sunday in Riyadh in hopes of improving bilateral trade relations.
Twenty-five American CEOs and other executives came to Riyadh and discussed an integrated Saudi-U.S. supply chain, workforce development, improving the Saudi business environment and developing a knowledge-based economy. Summit organizers hoped the meeting would be a boon to business in both countries and help support Saudi Arabia's efforts to grow its economy beyond oil.
“There are incredible opportunities for competitive American companies to bring their technology, knowledge and financing to the kingdom and to partner with and support key Saudi Arabian companies,” U.S. Chamber of Commerce President and CEO Thomas Donohue said. “Today’s Summit laid the groundwork to address specific policy areas, and the U.S. Chamber and the Council of Saudi Chambers will work to translate these ideas into concrete policy recommendations for our governments to act on.”
The executives will meet again later this year in Washington, D.C., and continue discussions through annual meetings alternating between Washington. and Riyadh.