KSA, 28 August, 2024 : The Federation of Saudi Chambers (FSC) has announced the creation of the Saudi-Portuguese Business Council, following approval from the General Authority of Foreign Trade (GAFT). Al-Waleed Al-Baltan will chair the council, with Tarfa Al-Mutairi and Turki Al-Khalawi serving as vice chairmen for its four-year term (1446 - 1450).
Al-Baltan highlighted that the council marks a significant advancement in Saudi-Portuguese economic relations, aiming to leverage investment opportunities and enhance trade partnerships. The council plans to focus on sectors such as infrastructure, agriculture, tourism, technology, and renewable energy.
In 2023, Saudi exports to Portugal reached SR 1.7 billion, while imports from Portugal totaled SR 1.1 billion. The council’s action plan will align with Saudi Arabia’s Vision 2030 and target specific investment opportunities in both countries, facilitating Portuguese entry into the Saudi market, a key destination for Portuguese exports.
The establishment of the council follows a 2021 memorandum of understanding between the Federation of Saudi Chambers and the Portuguese Business Federation, designed to foster business collaboration between the two nations.
Source : www.saudigazette.com.sa
Related Posts
Real estate has long been one of the most attractive sectors for criminals seeking to disguise illic...
Read More
For years, regulatory enforcement in AML followed a familiar pattern. A bank was found to have weak ...
Read More
For many Corporate Service Providers, customer due diligence is often viewed as the most important s...
Read More