"The global financial crisis and its adverse impact on Sweden in particular came up for discussion during my meeting with Finance Minister Ibrahim Al-Assaf," Ewa told Arab News after her hour-long meeting at the office of the Ministry of Finance. "It is affecting us as much as it is affecting Europe," she added.

It is against this background that she held meetings with Al-Assaf and Saudi Arabian General Investment Authority Gov. Amr Dabbagh yesterday, and with Minister of Trade Abdullah Zainal Alireza on Saturday, emphasizing on expanding bilateral trade and investment, promoting joint ventures and also seeking an effective implementation of various agreements reached between the two countries.

"My visit has been fruitful," she said, adding that she was very pleased and impressed with the kind of reforms the Kingdom is carrying out. "I find the Kingdom's reforms are in the right direction, with its liberalization of the economy making it attractive for investment and trade," she said.

Ewa, who arrived Friday and ended her three-day visit to the city yesterday, said she hoped to further strengthen bilateral ties between Sweden and Kingdom with the high-profile meetings she had. Her meetings were also aimed at promoting more bilateral investments.

Her visit underscored Sweden's stepped-up efforts in further strengthening the existing bilateral ties between the two countries, especially in trade, which touched SR7 billion last year. Sweden's export volume to the Kingdom so far this year is up 32 percent from the same period last year.

Ewa, who earlier in the day visited the King Abdullah Economic City, which is under construction, said she was confident "this city will reflect modern Saudi Arabia."

She said both countries could collaborate on promoting corporate social responsibility (CSR) of which she is responsible as the minister of trade.

"Since we have the expertise in CSR, we are interested in forging partnership with the Kingdom, as taking CSR into account when doing business is a win-win situation for all partners involved. It creates wealth and sustainable economic growth and development, and thus also contributes to combat poverty and corruption," she said. "We are also looking at promoting cooperation at various other economic levels following the agreements we have already reached," said Ewa who had earlier visited the Kingdom in March when the two countries signed a protocol on mutual investment protection agreement after many years of negotiations.

She said she was quite impressed with the way Saudi women were taking to business. "Sweden supports women's participation in business, as they contribute to broadening the specter of economic prospects," Ewa said.

Swedish Ambassador Jan Thesleff and Per-Erik Sandlund, director of Swedish Invest in Sweden Agency, accompanied her during her official meetings.

By K.S. Ramkumar

© Arab News 2008

 

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