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Thursday, Dec 01, 2022

Joint Business Forum gathers 40 Saudi, German companies in Riyadh

Joint Business Forum gathers 40 Saudi, German companies in Riyadh

The Federation of Saudi Chambers on Tuesday hosted the Saudi-German Business Forum in Riyadh, involving 40 Saudi and German companies from a range of industries.
The German delegation was led by the Bavarian Industry Association, and included members of the German-Arab Friendship Association and the German-Saudi Liaison Office for Economic Affairs.

Dr. Abdulrahman Al-Zamil, head of the Saudi delegation, reviewed investment opportunities available to German companies in all industries, particularly the industrial sector, which is experiencing rapid growth in light of Vision 2030.

In turn, Managing Director of Foreign Trade of the Bavarian Industry Association Volker Lennweber expressed Germany’s desire to strengthen economic cooperation with Saudi Arabia, particularly in the industrial sector.

Lennweber said that German expertise and products can contribute effectively to the Kingdom’s project industry.

Germany is the Kingdom’s fourth largest importer and one of its most important trading partners.

In 2020, the volume of trade exchanged between the two countries was about SR28.5 billion ($7.5 billion).

In September, Crown Prince Mohammed bin Salman met with German Chancellor Olaf Scholz in Jeddah to discuss bilateral cooperation prospects.

German Ambassador to Saudi Arabia Dieter Lamle said that the goal was to strengthen economic ties between the two countries.

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