UK Aims for £30 Billion in Bilateral Trade with Saudi Arabia by 2030
In an exclusive interview with Arab News at the GREAT Futures Conference, UK Deputy Prime Minister Oliver Dowden emphasized London’s target of achieving £30 billion ($37.7 billion) in bilateral trade with Saudi Arabia by 2030.
Describing the conference as a platform to showcase opportunities for both countries, Dowden expressed confidence in the potential for further trade and investment growth.
The GREAT Futures Conference
Taking place at the King Abdullah Financial District, the two-day conference featured 47 sessions and workshops with 127 speakers from various sectors. The event aimed to strengthen partnerships between Saudi Arabia and the UK in 13 key areas such as tourism, culture, education, and financial services.
With 450 British delegates and company leaders in attendance, the conference facilitated meetings between British and Saudi businesses and officials.
Stronger Than Ever
Dowden highlighted the robust relationship between the two countries, citing diplomatic, military, and royal family ties. He commended the vision outlined by Crown Prince Mohammed bin Salman and expressed the UK’s eagerness to contribute to Saudi Arabia’s Vision 2030.
Investment Opportunities
During the conference, Dowden announced significant investments from Saudi Arabia into North East England, totaling £3 billion and supporting 2,000 jobs. He emphasized the potential for further collaborations and investments between the two nations.
Building Business Partnerships
Dowden underscored the importance of the GREAT Futures Conference in fostering partnerships and familiarizing British companies with Saudi business regulations and incentives. He highlighted the event as a crucial step in enhancing trade relations between the two nations.