Minister Of Industry And Mineral Resources Begins Official Visit To France To Strengthen Economic Ties

Minister of Industry and Mineral Resources, Bandar Alkhorayef, is leading a delegation on a three-day official visit to France. The trip includes stops in Paris, Marseille, and Toulouse and aims to strengthen economic ties between Saudi Arabia and France. Discussions will focus on cooperation in the industrial and mining sectors, with an emphasis on joint investment opportunities in aviation and food industries.

Alkhorayef's itinerary includes meetings with French government officials and leaders from major French companies. These discussions will involve Eric Lombard, Minister of Economy, Finance, and Industrial and Digital Sovereignty. CEOs from Airbus, Safran, Orano, Sidel, Lesaffre, and the Bel Group are also scheduled for talks. The goal is to expand cooperation in industry and mining while attracting quality investments to Saudi Arabia.

The visit aligns with Saudi Arabia's Vision 2030 objectives. This initiative focuses on developing international partnerships to boost the competitiveness of the Saudi industrial sector. It aims to transform the Kingdom into a global industrial leader by localizing strategic industries like aviation and food.

During his visit, Alkhorayef will tour Airbus manufacturing plants in Marseille and Toulouse. These tours will provide insights into their production lines and facilities. Additionally, memoranda of understanding are expected to be signed with French companies. These agreements aim to encourage joint investments and facilitate knowledge transfer in promising industrial sectors.

Saudi Arabia offers numerous incentives for investors interested in its specialized industrial clusters. The Kingdom seeks to build effective partnerships that leverage these opportunities. By highlighting its capabilities, Saudi Arabia hopes to attract high-quality investments that align with its strategic goals.

Bilateral Trade Relations

Saudi Arabia's non-oil exports to France exceeded SAR1.91 billion in 2024. These exports mainly include machinery, electrical appliances, organic chemical products, and aluminum derivatives. Meanwhile, French non-oil imports reached SAR18.2 billion during the same period. Essential oils, electrical appliances, and pharmaceutical products are among the key import sectors.

The visit underscores the strong economic relationship between Saudi Arabia and France. By fostering collaboration in key areas like aviation and food industries, both countries aim to enhance their economic ties further.

The official visit is part of broader efforts to localize advanced strategic industries within Saudi Arabia. Attracting high-quality investments is crucial for facilitating technology transfer and innovation in these sectors.

This trip highlights Saudi Arabia's commitment to enhancing its industrial capabilities through international partnerships. By focusing on strategic areas like aviation and food industries, the Kingdom aims to position itself as a leading global industrial power.

With inputs from SPA