RIYADH -- Thirty local businessmen will attend the 13th meeting of the Saudi-German Business Dialogue (SGBD) to be held on July 20 at the Federal Ministry of Economics and Labor in Berlin, according to Suliman Al-Sayyari, SGBD coordinator and general manager of the Saudi German Development and Investment Co. Ltd.
" In addition to the Saudi businessmen, over 50 delegates from Germany and a number of government officials, will also be attending the event," Al-Sayyari said. The Saudi team will leave on July 19.
The event will be held in conjunction with the 15th session of the Saudi-German Joint Commission on Technical and Economic Cooperation under the chairmanship of Saudi Finance Minister Dr. Ibrahim Al-Assaf, German Federal Minister of Economics & Labor Wolfgang Clement, SGBD co-chairman from the Saudi side Khaled Juffali and co-chairman from the German side Dr. Henryk Frystacki. Al-Sayyari said the dialogue is taking place at a time when the Kingdom and Germany are enjoying excellent bilateral relations. The joint investment in the Kingdom has reached $1.4 billion in 108 joint ventures in which the Saudi share is 69 percent and German share is 31 percent.
Germany ranks third, after the US and Japan, among nations exporting goods to the Kingdom. The value of German exports in 2003 amounted to $3.9 billion and German imports from Saudi Arabia crossed $1.15 billion.
Rodolfo C. Estimo, Jr.
© Arab News 2004
