Increased
investments, mergers and coalitions are just part of the developments
noted in a recent report on the relationship between Saudi Arabia and
France.
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.
