Council of Saudi Chambers issued the following announcement on March 11.
Officials of the Council of Saudi Chambers (CSC) represented in Chairperson Eng. Ahmed Al Rajhi and Secretary General Dr. Saud Al Meshari conveyed the Saudi business community’s positive reaction to the successful visit of Crown Prince Mohammed bin Salman to the United Kingdom, which focused on the political and economic cooperation between the two Kingdoms.
The visit included signing various trade agreements and investments plans, estimated at around USD 100 billion over the next decade, in line with the Saudi Vision 2030. Eng. Al Rajhi praised these developments as they indicated alignment between the two countries in their policies towards regional and international affairs. The CSC Chairperson described the visit as an extension of the Saudi leadership’s efforts to foster international relations and investments, adding that the visit shall have a positive impact on Saudi-UK bilateral relations.
Al Rajhi stated that fostering trade and investment relations with the UK is instrumental to realizing the Saudi Vision 2030 considering that the UK is a main trade partner to Saudi Arabia. He added that more joint investments would materialize over the next few days following the signing and implementation of relevant agreements and MoUs in this regard. He encouraged the Saudi and British business communities to utilize these special relations by exploring the investment and partnership opportunities in the two countries.
Al Rajhi additionally highlighted the economic activities that accompanied the official trip, including the Saudi-British Joint Business Council meeting, the Saudi-UK CEO Forum, and the Commonwealth Enterprise and Investment Council roundtable. Over 100 representatives from the Saudi business community partook in these meetings. The CSC Chairperson conveyed the appreciation of the Saudi business community to the continued efforts of the Saudi leadership to enhance their role in this regard.
For his part, CSC Secretary General Dr. Saud Al Meshari described the official visit as “successful on all counts”, adding that such a step is significant to maintaining the trade relations between the two friendly Kingdom as well as fostering the realization of the Saudi Vision 2030. He commended both the Saudi and British business communities for their initiatives to enhance partnerships between the two nations.
Al Meshari additionally pointed to the significant benefits for the Saudi business community from this visit, namely, the initiatives supporting PPP, SMEs, and advanced technologies. Alongside the MoUs on fostering trade cooperation and providing relevant information on the investment opportunities in the two markets. The CSC Secretary General further pointed to the Saudi delegation’s participation in the Saudi-UK CEO Forum, held on the sidelines of the official trip, which highlighted the various opportunities in Saudi Arabia and the economic reforms it recently undertook in regards to the facilitations and incentives offered to foreign investors. Al Meshari described the CEO Forum as an exclusive platform that celebrates and fosters strategic and trade relations between the two countries, heading into the future.
Moreover, the Secretary General touched on the Saudi delegation’s participation in the Commonwealth roundtable, which tackled trade and investment cooperation between the two nations. The roundtable was chaired by CSC Chairperson Eng. Ahmed Al Rajhi on the Saudi side, and Chairperson of the Commonwealth Enterprise and Investment Council Lord Jonathan Marland. It highlighted recent economic developments in the Kingdom post-Saudi Vision 2030 and its future endeavors as an Islamic heavyweight and key investment hub in the region. The roundtable additionally discussed Saudi Arabia’s economic openness to international markets, and particularly, creating robust strategic relations with Commonwealth states.
The CSC officials concluded their statements by reiterating the appreciation of the Saudi business community to the Saudi leadership, embodied in King Salman bin Abdulaziz and Crown Prince Mohammed bin Salman, for their continued efforts to enhance the private sector’s involvement in the national economic development process.
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