14/08/2013
Mr.Abdalrhamn bin Rashid Al Rashid President of the Chamber has welcomed on Sunday 28 July 2013, Director of the British Trade Office in the new eastern region Mr. Steve Graham. During the meeting, they exchanged views on various economic topics of mutual interest, notably the reality and the future of economic relations between Saudi Arabia and Britain, given daily updates on global markets. Especially since both Britain and the Kingdom are part of the Group of 20(G20).
Both parties agreed on the need for cooperation between them for the benefit of private enterprises in the two countries, with emphasis on the importance of supporting and further developing joint projects, the intensification of trade delegations between the two countries and joint events that serve to strengthen economic ties. Al-Rashed said during the meeting that the investment climate in Saudi Arabia is encouraging for foreign investment because of the advances in Saudi Arabia at the level of infrastructure and also legislation and regulations and facilities, and the eastern region more motivated and encouraged by virtue of geographical location and a major oil, gas and petrochemicals in the world.
The trade between the two countries exceeded 20 billion and Britain is the largest investor in Saudi Arabia, there are 349 British companies active in Saudi Arabia, 20 per cent were working in the manufacturing sector and 80 per cent in the service sector beside British companies operating in the Kingdom continue to rise as a result of stable working climate, and Saudi Arabia is a key partner for Britain as the largest market in the region of the great economic powers.
