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Blog entry by FintEdu Admin

Saudi, UK Officials Meet to Strengthen Trade and Investment Ties

KSA, 17 September, 2024 : Saudi Minister of Commerce Dr. Majed Al-Qasabi met with British Secretary of State for Business and Trade Jonathan Reynolds in Riyadh on Monday. This was Reynolds' first official foreign visit since taking office, signaling efforts to strengthen Saudi-UK economic ties.

The talks focused on increasing trade and investment in key sectors, aligned with the Saudi-British Strategic Partnership Council, chaired by Crown Prince Mohammed bin Salman and UK Prime Minister Keir Starmer. Discussions included Saudi Arabia’s Vision 2030 reforms and encouraging British companies to expand in the Kingdom.

Dr. Al-Qasabi noted that bilateral trade has grown by over 30% since 2018, reaching $103 billion, with 1,139 British investors now operating in Saudi Arabia. The meeting follows the successful GREAT Futures Initiative Conference in May, which saw 450 British business leaders and 13 agreements signed.

Reynolds also visited the Saudi Center for Economic Business to learn about services that support business operations in the country.

Source : www.saudigazette.com.sa

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