| 28 Nov 2008 |
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Saudi-Swedish ties set for a major boost
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RIYADH: Swedish Trade Minister Dr. Ewa Bjorling, who arrives today for a three-day visit in Jeddah, hopes to further strengthen bilateral ties between Sweden and Kingdom with high-profile meetings.
"The visit underscores Sweden's stepped-up efforts in further strengthening the existing bilateral ties between Sweden and Saudi Arabia specially in trade. Sweden's export volume to the Kingdom so far this year is up 32 percent from the same period last year," Swedish Ambassador Jan Thesleff told Arab News.
This will be Bjorling's second visit to the Kingdom this year. She is set to meet with Minister of Trade and Industry Abdullah bin Ahmed Zainal Alireza, Minister of Finance Ibrahim Al-Assaf, Saudi Arabian General Investment Authority (SAGIA)Saudi Arabian General Investment Authority (SAGIA)
Gov. Amr Dabbagh and local businessmen, according to Thesleff. Bjorling was also here in early March and among those she met included Al-Assaf.
They signed a protocol on Mutual Investment Protection Agreement after many years of negotiations.
Bjorling will be discussing with Saudi officials ways to further develop and improve bilateral trade between the two countries which touched SR7 billion last year, investment in Saudi Arabia by Swedish businessmen and in Sweden by Saudi investors and the establishment in the Kingdom of Swedish manufacturing firms. Accompanying her will be Per-Erik Sandlund, director of Swedish Invest in Sweden Agency (ISA).
The ambassador noted that two major Nordic manufacturers are keen to establish market presence in Saudi Arabia. Outokumpu, one of the global leaders in stainless steel, has agreed to form a joint venture with ArmetalArmetal, Saudi Arabian stainless manufacturer. The new company, Outokumpu Armetal Stainless Pipe Co. Ltd., will be set up in Riyadh and produce tubular stainless steel products.
Oil and gas, desalination industries and construction are just a few of the currently booming sectors that will be in great demand of the new joint venture's products and services.
Another venture finalized recently is between Swedish Trioplast Industries AB and Saudi Arabian Mada Group for Industrial & Commercial Investment. The company's production will begin in a new manufacturing facility in the Jubail Industrial City and will focus on cast stretch film. The new facility will be inaugurated on Dec. 1.
He said that Trioplast is a leading manufacturer of cast stretch film, blown stretch film and agricultural films, while Mada Group for Industrial and Commercial Investment has several industrial plants that include the production of carpet backing, light carpets and artificial grass. The joint venture will be export-oriented and aspires to become a major global supplier.
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