Minister of Economy and Planning: Britain is among the Largest Trading Partners of Saudi Arabia

  • 2/10/2023
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Riyadh, Sep. 29, 2021, SPA -- Faisal bin Fadel Al-Ibrahim, Minister of Economy and Planning, affirmed that Britain is among the largest trading partners of the Kingdom of Saudi Arabia, disclosing that the trade exchange movement continues to achieve its goals, as the Kingdom's exports to Britain in 2019 amounted to about SAR 8.9 billion, while the Kingdom's imports from Britain amounted to SAR 12 billion. To mark British Prime Minister Boris Johnson's visit to the Kingdom, he pointed out to the historical depth of the relations between the Kingdom of Saudi Arabia and the United Kingdom, asserting that this visit strengthens the bilateral relations of the two countries and their strategic partnership that dates back to the era of the first and second Saudi states. "Relations between the two countries have been rooted since the signing of the (Darin Pact) during the reign of the late King Abdulaziz. This pact was the start of close ties that extended until 1927, when the United Kingdom sent its first mission to the Kingdom of Saudi Arabia. Then, visits and bilateral relations were extended throughout the history of the two countries' relations. The most recent of which was the visit of His Royal Highness Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud to Britain in 2018, which represents a new era in the history of diplomatic and bilateral relations at all levels and fields. Al-Ibrahim added that the Kingdom, as the largest market in the region, is a major partner to Britain due to the two countries' strong economic and trade relations that serve common interests and enhance opportunities for economic development and trade exchange between the two countries, stressing that these relations resulted in the establishment of the Strategic Partnership Council in 2018 during the meeting of HRH Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud with former British Prime Minister Theresa May. Al-Ibrahim asserted that this council will contribute to strengthening the future of bilateral relations between the two countries. He pointed out to British Prime Minister Boris Johnson's statements about Britain’s vision in the coming years, saying: “Britain will have prosperous relations with the countries of the Middle East and the Gulf based on trade, green innovation, and cooperation in science and technology,” affirming that there are opportunities for further cooperation in the fields of automobile industry, chemical materials industry, health, financial services, insurance, agriculture and tourism. Regarding the Kingdom’s efforts to strengthen cooperation frameworks to achieve the Vision 2030, he disclosed that the Kingdom relies on its strengths, including its distinguished strategic location, which strengthens its position as a major driver of international trade and a hub to connect the three continents of Asia, Africa and Europe. He expressed the Kingdom's optimism in the continuation of the cooperation process with Britain in the fields of development, investment, technology, renewable energy, military industries, cyber security, digital health, tourism, culture, entertainment, education and capacity building. The Minister of Economy and Planning affirmed the importance of consolidating cooperation and partnership with Britain in the fields related to human and social development. He affirmed that the Kingdom and Britain have identical views towards combating terrorism and extremism, regional stability, clean energy, and coordinating humanitarian and development aid activities in order to address regional and global challenges. --SPA 19:47 LOCAL TIME 16:47 GMT 0033 www.spa.gov.sa/w1628424

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