Saudi Arabia and US Strengthen Trade Relations
In a move to further boost trade relations between Saudi Arabia and the US, Minister of Commerce Majid bin Abdullah Al-Qasabi recently met with prominent business leaders in Washington. The discussions highlighted the robust economic connections between the two countries.
Progress Towards Vision 2030
During the meeting, Al-Qasabi, who also chairs the board of directors of the National Competitiveness Center, emphasized the progress made in Saudi Arabia’s journey towards achieving its ambitious Vision 2030 plan. The transformations within the Saudi economy have led to the emergence of new sectors and promising business opportunities.
Enhancing Cooperation
The discussions also focused on ways to enhance cooperation between the chambers of commerce of both countries, with a particular emphasis on exchanging best practices to improve the Kingdom’s business environment and attract US companies.
High-Level Attendees
Saudi Ambassador to the US Princess Reema bint Bandar, 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, were also present at the meeting.
Exploring Collaboration at Georgetown University
Al-Qasabi and his delegation visited Georgetown University, where they learned about the institution’s collaboration programs and the latest research in areas such as entrepreneurship, corporate governance, and compliance. They also received briefings on trade policy analysis, international trade law, economic development, and applications of artificial intelligence and machine learning.
Meeting with Industry Leaders
Additionally, Al-Qasabi held separate meetings with industry leaders including Stefan Umiastowski, senior vice president of Ecolab, and Stuart Jones, president for Regions and Corporate Relations at Bechtel. These discussions focused on addressing challenges and leveraging emerging opportunities in their respective fields.