24/11/2013
Begins on first quarter of next year
A new office to support German Saudi partnerships at Jubail eastern Chamber branch
Aims to develop a range of German investments in the Saudi market
The East Chamber and the German Liaison Office for Economic Affairs this morning (Wednesday 21 November 2013) signed a memorandum of understanding, for opening a new branch in the eastern region (specifically in Jubail governorate Branch) with the task of supporting and developing the relationship between companies and their counterparts in Germany, to begin work in the first quarter of next year (2014), and the memorandum signed by Secretary General of the Chamber Abdul Rahman bin Abdullah Al-WABIL, Andreas hergnrotr, (German Commissioner for industry and trade in Saudi Arabia, Yemen) The new Office is to develop and expand German investment in the Saudi market by supporting German companies existed in the market, especially in the industrial field, State support of partnership with other companies, the Bureau shall provide all the information that supports this trend, and the principle of partnership and cooperation to serve the interests of both parties.
This step is described by Abdul Rahman bin Abdullah Al-wabel as another step taken by the Chamber to support its customers in the industrial sector, which seeks to open more horizons of cooperation with German expertise in this aspect, the pursuit of German technical transfer. Hailing the response of the German Liaison Office for Economic Affairs for the Saudi German partnerships support the raising of the level of economic relations between the two countries, especially in industrial areas. He said that the choice of Al-Jubail branch to host this Office came to the specificity of the Jubail focusing heavy high-tech industries and attracts billions of domestic and foreign investments; the Office came to be adding another new channel before the Saudi investors who wish to establish partnerships with German investors. Adding that this branch will not be limited to service industrial joint ventures, but will provide all the requirements of the Saudi investor German expertise in various fields.
He expressed his hope for the introduction to the draft to give added value to the national economy, attracting local investment activities adopt techniques and experiences, and generating new economic projects provide goods and also new products and open up prospects for promising Saudi youth and later the option to transfer advanced technology from Germany to the local market.
