Saudi Delegation Seeks to Expand Trade and Investment in US

KSA, 24 June, 2024 : A Saudi delegation, led by the General Authority of Foreign Trade and Deputy Governor Abdulaziz Alsakran, is participating in the 8th Saudi-US Trade and Investment Council Meeting (TIFA) in Washington, D.C., from June 24 to 28. The delegation includes officials from 20 Saudi government entities.

The Council aims to enhance trade and investment relations between Saudi Arabia and the US, identifying opportunities for growth, removing trade barriers, and fostering a conducive economic environment.

Alongside the council meetings, the Saudi delegation is engaged in various sessions such as "Middle East and USA: Investments & Opportunities" and the SelectUSA Investment Summit. Discussions also include the GCC-US Trade and Investment Dialogue and sector-specific roundtable meetings.

Representatives from key Saudi ministries and authorities are part of the delegation, focusing on sectors including commerce, energy, investment, technology, and agriculture. The General Authority for Foreign Trade plays a pivotal role in promoting bilateral trade and addressing export challenges.

In 2023, trade between Saudi Arabia and the US amounted to approximately $34 billion, highlighting significant exchanges in minerals, fertilizers, machinery, and automotive sectors.

Source : www.saudigazette.com.sa