Saudi council sees growing Saudi-French relationship
The report, released by the Saudi-French Business Council of the Council of Saudi Chambers (CSC),
shows that trade between the countries surpassed $10.7 billion in 2015. French investments in Saudi Arabia are worth approximately $15 billion. The European country also gets most of its oil from the gulf nation.
The Saudi side of the joint council is led by Chairperson Mohammed Bin Laden, with the help of Vice Chairperson Fayez Al Alweet and Regional Director Bassem Al Hebshi. All three have played a significant role in advancing Saudi-French trade relations.
The report identifies 13 initiatives undertaken by the council to increase bilateral relations, including methods for creating an online portal for trade and industrial opportunities for bilateral investments;and encouraging mergers, coalitions and acquisitions between Saudi and French companies.
Also of note in the report is a section discussing the institutionalized approach of the joint council to prioritize certain trade sectors, namely water, electricity, energy, health care, education, training, renewable energy and finance.