Saudi Arabia, New Zealand create bilateral business council

Saudi-New Zealand business relations recently received a boost when the Council of Saudi Chambers (CSC) and New Zealand Middle East Business Council (NZMEBC) signed a memorandum of understanding (MoU) to create a Saudi-New Zealand Business Council.

The initiative is expected to enhance bilateral trade relations.

The MoU was signed by CSC Chairperson Abdulrahman Al Zamil and NZMEBC Vice Chairperson Michael Webb.

New Zealand Foreign Minister Murray McCully said that New Zealand is one of the largest countries to produce foods and that 90 percent of the country's food products are exported worldwide. He said that Saudi Arabia imports a good deal of food, while New Zealand relies on importing energy, which Saudi Arabia produces. He also mentioned additional opportunities for cooperation between the two countries in the education and tourism sectors.

The Saudi-New Zealand joint council will consist of business representatives from both countries meeting regularly in Riyadh and Wellington to discuss developments and business opportunities.