Industry Minister Bandar Alkhorayef Engages With Danish Economic Affairs Minister To Enhance Trade Relations

Minister of Industry and Mineral Resources Bandar Alkhorayef recently visited Denmark, where he met with Minister for Economic Affairs Stephanie Lose. This meeting was part of an official visit aimed at enhancing economic ties between Saudi Arabia and Denmark. The discussions focused on boosting trade in industrial, mining, and non-oil sectors.

The meeting highlighted the need to expand economic cooperation and support the growth of non-oil trade between the two nations. Both sides explored opportunities for Danish companies to increase their investments in Saudi Arabia. They also discussed potential collaborations in renewable energy industries.

During the discussions, both parties agreed to exchange expertise and facilitate technology transfer. They also planned to develop joint investments in strategic industrial sectors that Saudi Arabia is keen to develop and localize. This aligns with the Kingdom's broader economic goals.

Bilateral trade between Saudi Arabia and Denmark has been increasing rapidly. In 2024, the total volume of non-oil trade exchange surpassed SAR4.3 billion, up from SAR3.9 billion in 2023. This growth reflects the strengthening economic relationship between the two countries.

The meeting also reviewed ways to enhance Danish companies' presence in Saudi Arabia. By exploring new cooperation opportunities, both nations aim to foster a more robust economic partnership that benefits their respective industries.

This visit by Alkhorayef underscores Saudi Arabia's commitment to attracting quality investments and developing its industry and mining sectors. The collaboration with Denmark is seen as a step towards achieving these objectives.

The discussions during this visit are expected to pave the way for further economic partnerships between Saudi Arabia and Denmark. By focusing on strategic sectors, both countries aim to strengthen their bilateral ties and promote sustainable growth.

With inputs from SPA