Saudi Commerce Minister And US Business Leaders Explore Future Trade Prospects

At a notable meeting in Washington, Dr. Majid bin Abdullah Al-Qasabi, the Minister of Commerce and Chairman of the Board of Directors of the National Competitiveness Center (NCC) of Saudi Arabia, engaged with leaders from the US Chamber of Commerce and executives from leading US companies. This gathering underscored the strong trade relations existing between Saudi Arabia and the United States, focusing on mutual interests and future cooperation.

During the discussions, Dr. Al-Qasabi shed light on the significant strides made under Saudi Vision 2030 and the transformative changes in the Kingdom's economy. These changes have not only led to the emergence of new sectors but have also opened up attractive business opportunities for global investors. The meeting also served as a platform for discussing enhanced cooperation between the chambers of commerce of both countries, aiming to exchange best practices to further improve the business environment in Saudi Arabia and to attract American companies to invest in the Kingdom.

The Saudi Ambassador to the US, Princess Reema bint Bandar bin Sultan bin Abdulaziz, was present at this important meeting. Also in attendance were Khush Choksy, Senior Vice President for Middle East and Turkiye Affairs at the US Chamber of Commerce, and Steve Lutes, Vice President of Middle East Affairs at the US Chamber of Commerce.

In addition to these high-level discussions, Dr. Al-Qasabi's visit included a stop at Georgetown University. There, the delegation was briefed on the university's cooperation programs and its latest research in critical areas such as entrepreneurship, corporate governance and compliance, trade policy analysis, international trade law, economic development, and applications of artificial intelligence and machine learning. This visit provided valuable insights into addressing challenges and seizing emerging opportunities in these vital fields.

Furthermore, Dr. Al-Qasabi held separate meetings with Stefan Umiastowski, senior vice president of Ecolab—a global leader in water, hygiene, and energy solutions—and Stuart Jones, president for Regions and Corporate Relations at Bechtel. Bechtel is recognized as one of the world's foremost engineering, procurement, construction, and project management companies.

This series of meetings and discussions highlights Saudi Arabia's proactive approach towards fostering international trade relations and attracting foreign investment to support its ambitious Saudi Vision 2030 goals. The engagement with US entities underscores a mutual interest in strengthening economic ties and exploring new avenues for collaboration across various sectors.

With inputs from SPA