Chamber President and CEO Tom Donohue had the honor Thursday of hosting the leadership of the Saudi Arabian General Investment Authority (SAGIA) and the Council of Saudi Chambers of Commerce & Industry for a roundtable discussion focused on a shared goal -- deepening and expanding bilateral trade and investment across a number of sectors.
The distinguished Saudi delegation included HRH Prince Saud Bin Khalid Al-Faisal, deputy governor of SAGIA; Dr. Abdul Rahman Al-Zamil, president of the Council of Saudi Chambers; Omar Bahlaiwa, secretary general of the Committee for International Trade of the Council of Saudi Chambers; and several prominent Saudi business leaders. They were joined at the D.C. gathering by representatives from more than two dozen leading American businesses. At the meeting, Prince Saud noted that the relationship between the United States and the Kingdom of Saudi Arabia is strategic, and our nations are coordinated on a number of critical global issues. On Saudi Arabia’s economy, he said the Kingdom “is an exciting place with a lot going on,” pointing to a variety of sectors and GDP growth of more than 130% over the past 10 years.
The Chamber established a formal working relationship with the Council of Saudi Chambers, the Kingdom’s leading business organization, last year at a ceremony in Riyadh in order to promote greater economic cooperation between the United States and Saudi Arabia. The Chamber also is partnering with SAGIA to develop a strategy to boost investment, competitiveness and innovation in a number of key sectors in the Kingdom, as well as explore how to strategically advance a vibrant and competitive future for Saudi Arabia’s biopharmaceutical, medical, ICT, renewable energy, petrochemical and other industries.
As Saudi Arabia strives to diversify its economy while drawing upon a deep pool of talented, highly educated workers in the Kingdom, the Chamber will work closely with our partners at SAGIA and the Council of Saudi Chambers to educate American businesses about opportunities, identify and remove obstacles to trade and investment, and strengthen the overall economic relationship between the nations.