Saudi ministers meet with UK business secretary, seek to boost bilateral ties in various fields

The two sides also took stock of “the promising opportunities and projects” offered by the Kingdom's Vision 2030

  

RIYADH British Business Secretary Kwasi Kwarteng, who was on an official visit to Saudi Arabia, met here on Tuesday with Saudi Foreign Minister Prince Faisal Bin Farhan, Minister of Industry and Mineral Resources Bandar Al-Khorayef and chairman of the Saudi Space Commission Abdullah Al-Swaha in a bid to boost bilateral cooperation in various fields.

The Saudi foreign minister and the UK business secretary reviewed aspects of the strategic partnership between the two countries during their meeting and discussed opportunities to enhance cooperation and joint coordination to serve the interests of both countries, the Saudi Press Agency reported.

The two sides also took stock of “the promising opportunities and projects” offered by the Kingdom's Vision 2030.

Earlier in the day, the Saudi minister of industry and mineral resources held a meeting with the UK business secretary and his accompanying delegation in the presence of industry.

During the meeting, Al-Khorayef and Kwarteng discussed the latest developments in joint projects and agreements, reviewed investment opportunities, and the strengthened economic relations between the two countries in the industrial sector.

They shared the details of a new mining investment system and followed up on projects from a geological survey program of the Arabian Shield in the Kingdom in which a number of international bodies and companies, including British firms, participated.

The Saudi industry minister the UK business secretary examining export opportunities between the two countries to achieve the desired economic transformation in line with the goals of the Kingdom's Vision 2030.

During the meeting, the attractiveness of the Saudi market for investments in various fields was highlighted as the Kingdom is witnessing a strong industrial movement. They also reviewed the initiatives and legislation unveiled by Saudi Arabia to improve the investment environment and to facilitate investors.

The Saudi minister for industry and mineral resources said the economic partnership with the United Kingdom was one of Saudi Arabia’s well-established strategic partnerships, calling for more industrial and mining cooperation to serve the national industry and achieve the goals of the Kingdom's 2030 vision.

It may be noted that the British market receives a number of Saudi non-oil exports, represented in the activities of manufacturing chemicals and polymers, in addition to building materials, food products, packaging, precious metals, jewelry, and the pharmaceutical sector.

The UK business secretary also met with the Saudi Space Commission chief.

During the meeting, they discussed opportunities for cooperation between the Saudi Space Commission and the British Space Agency, in addition to stimulating private sector participation in the two countries in the field of space economy and development of human capabilities.

The Saudi Space Commission seeks to build effective international companies in the field of space to support the Kingdom's ambitious journey to shift towards an innovation-based economy, in addition to stimulating investment and creating new markets that will support economic diversification and create new jobs.

 

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