16/09/2013
The value of Saudi exports to Germany is more than billion
German companies presented their experience in the railway industry, technology and training
Abdullah Ali almajdouie Board member of the east Chamber said that German companies have a significant presence in the Saudi market, saying that it provides high-tech products with long experience in different areas. Almajdouie explained during his meeting with George Reichl, head of the Foreign Trade Department of the Middle East at the Ministry of Economic Affairs where he led a German business delegation on Monday 16 September 2013 at the headquarters in Dammam, over 400 German companies currently operating in the Kingdom through joint ventures and subsidiaries or branch offices, such as RAIL.ONE, Conergy, Mercedes-Benz and Siemens energy. The meeting saw the presence of the Secretary-General of the Chamber Abdul Rahman bin Abdullah Al-WABIL and Andreas Herginrother, representative of the German economy.
Almajdouie stressed that Saudi Arabia has embarked on expanding the local railway networks significantly where expansion plans add nearly 4,000 km of rail lines to its network that will link the North of the Kingdom to the South and East to West, passing through Riyadh which is a valuable opportunity for German companies in providing their expertise in this sector and to transfer its technology to the Kingdom. Almajdouie pointed out that the new extension is expected to exceed the number of passenger rail annual 11 million, and is expected to increase the volume of goods to be transported by railway to 57 million tons of goods and materials. Almajdouie stressed that the annual two-way trade volume between the two countries reached more than 42.7 billion in 2012, the value of imports from Germany around 41.3 billion as exports to Germany 1.4 billion.
Reichl said that the delegation met a number of businessmen in the region to enhance cooperation in various fields, especially in engineering solutions for railway applications, security and safety systems, noting that German companies want to provide technology and training to the railway sector in the Kingdom. Reichl Focused on ' Solutions by -making in Bavaria', which became a successful program to strengthen cooperation with foreign partners also urged Saudi firms to participate in international trade fairs in Germany to promote their products.
