Latest news with #Saudi-British
Saudi Gazette
5 days ago
- Business
- Saudi Gazette
Commerce and sports ministers participate in roundtable on Saudi-British sports cooperation
Saudi Gazette report LONDON — Saudi Minister of Commerce Dr. Majid Al-Qasabi has affirmed at the Saudi-UK Strategic Partnership Council that Saudi vision 2030 launched by Crown Prince Mohammed bin Salman transformed the Saudi economy and created promising opportunities in many vital sectors. He explained that the Saudi-British partnership is unique, and the UK is the second-largest exporter of services in the world. He added that the two countries can cooperate to establish a global integration system that covers many aspects of sports, tourism, culture, arts, and technology, all of which have become a global language that requires no translation. The meeting was also attended by Saudi Minister of Sports Prince Abdulaziz bin Turki, and Sir Chris Bryant, UK's Minister of State for Creative Industries, Arts and Tourism. The roundtable, organized by the National Competitiveness Center in cooperation with the UK Department for Business and Trade, focused on introducing companies to the promising opportunities offered by the Kingdom's hosting of international sporting events, such as the 2034 World Cup. It also addressed opportunities for cooperation in areas supporting the sports sector, such as technology, infrastructure, construction, facility operations, and planning and execution of major events. In a meeting with Jonathan Reynolds, Minister of State for Business and Trade, which was attended by Prince Khalid bin Bandar, Saudi Ambassador to UK, and Neil Crompton, British Ambassador to the Kingdom, Al-Qasabi discussed enhancing cooperation in developing the sports sector in light of Saudi hosting major events such as the 2034 World Cup. They reviewed the progress of initiatives emerging from the economic and social committees of the Saudi-British Strategic Partnership Council, including developments in the negotiations of the Free Trade Agreement between UK and the Gulf Cooperation Council countries. During the meeting, the two sides highlighted the importance of the Saudi-British Future Skills Initiative and its impact on developing skills in sectors of mutual interest, in addition to the continuation of the Great Futures Initiative for 2025. The Saudi delegation's agenda on the first day included a field visit to Queen Elizabeth Olympic Park and its facilities. The delegation was briefed on the facilities' capabilities and experience in hosting entertainment and sporting events. The participating entities in the visit included the ministries of Commerce, Sports, Investment and Finance, the Supreme Committee for Hosting the 2034 World Cup, the Public Investment Fund, the National Competitiveness Center, the Saudi Business Center, the National Center for Privatization, and a number of major national companies specializing in sports events, infrastructure, and media. Al-Qasabi arrived in the British capital, London, on a working visit, accompanied by a delegation comprising officials from nine government agencies and 30 leaders from the business sector and major national companies. The visit aims to build economic partnerships in the sports sector between the two countries, strengthen relations across various priority sectors, and raise the level of commercial partnerships.
Asharq Al-Awsat
05-04-2025
- Business
- Asharq Al-Awsat
Saudi-British Business Council to Turn Sustainability, Green Finance Deals into Reality
The Saudi-British Joint Business Council (SBJBC) has revealed ongoing efforts to translate agreements aimed at advancing sustainability, clean energy, and green financing into tangible projects. This comes alongside the development of new initiatives in artificial intelligence and defense technology, as part of expanding bilateral cooperation between the two nations. Speaking to Asharq Al-Awsat, Cordelia Begbie, UK Executive Director of the SBJBC, stated that the council is currently exploring new sectoral opportunities as part of its 2025-2026 program, while also hosting a series of events aimed at enhancing collaboration between the two kingdoms. SBJBC is set to support its new research unit through upcoming events that will focus on producing both independent and collaborative research papers, revealed Begbie. These papers will address regulatory changes, sector insights, and opportunities for development, as well as highlight government initiatives designed to assist businesses in these areas. According to Begbie, the council's activities are centered on clean technology projects, linking investors with emerging clean tech companies from both Saudi Arabia and the UK. These initiatives also support specialized task forces that discuss policy developments and long-term opportunities in these sectors, with active participation from both public and private sector stakeholders. The Saudi-British cooperation plan has made notable strides in investment, economic, and commercial projects, particularly through the 'Saudi-British Vision 2030' partnership. This initiative has significantly strengthened ties between the two nations in key areas such as technology, energy, infrastructure, and defense. Additionally, the Saudi Public Investment Fund has made substantial investments in British projects, particularly in clean energy, green hydrogen, and infrastructure. The two countries have also deepened their collaboration in renewable energy, with British companies playing a key role in Saudi Arabia's large-scale solar and wind energy projects. Begbie expressed strong optimism about the future of Saudi-British cooperation in climate, clean technology, hydrogen, and ammonia. The collaboration is seen as highly promising, driven by shared goals to address climate change and diversify the economy, with both nations committed to achieving net-zero emissions. While the UK aims to reach this target by 2050, Saudi Arabia is set to achieve it by 2060, creating significant potential for bilateral cooperation. Saudi Arabia is solidifying its position as a global leader in hydrogen production, with vast opportunities for collaboration with the UK, which has extensive expertise in hydrogen policies and technology. Geopolitical and economic ties also enhance this cooperation, as Saudi Arabia's strategic location serves as an energy hub for Europe, Asia, and Africa. Moreover, the UK's environmental policy goals align with Saudi Arabia's climate objectives, further strengthening the partnership. Bilateral agreements, such as the Saudi-British Vision 2030 partnership, are expected to boost investments in clean technologies and sustainability. The SBJBC continues to work with stakeholders to expand its reach and influence within Saudi Arabia. The council also oversees the ongoing growth of the Saudi-British Technology Center, an integral part of the SBJBC since its launch in 2022. The SBJBC remains committed to enhancing private sector contributions and developing stronger commercial ties between the two nations, offering a range of services and providing access to high-level networks from both the public and private sectors in both countries.
Arab News
29-01-2025
- Business
- Arab News
Saudi-UK aviation ties set for growth amid investment push
JEDDAH: Saudi Arabia aims to strengthen aviation ties with the UK as officials from both countries met to boost investment and collaboration, amid the Kingdom's push to upgrade its airports and expand global connectivity. A senior Saudi delegation, led by Mohammed bin Fahd Al-Khuraisi, executive vice president for strategy and business intelligence at the General Authority of Civil Aviation, participated in a Saudi-British roundtable in London, the Saudi Press Agency reported. The meeting, which brought together top British aviation companies, CEOs, and experts, focused on enhancing strategic cooperation and unlocking new opportunities in the aviation sector, aligned with Saudi Arabia's Vision 2030 goals. These initiatives align with Saudi Arabia's National Aviation Strategy, which aims to double passengers capacity to 330 million annually, increase air cargo capacity to 4.5 million tonnes, and expand connectivity to over 250 destinations worldwide. In his speech, Al-Khuraisi highlighted the UK's role as a key European market for Saudi Arabia, with passenger traffic between the two nations more than doubling in 2024 to 1.338 million, compared to 2022. This surge in demand underscores the need for continued investments in aviation infrastructure and international partnerships. The two nations maintain strong trade and cultural ties, with Al-Khuraisi highlighting that in December, both countries agreed to increase bilateral trade to $37.5 billion by 2030, underscoring the value of their relations and mutual economic benefits. He also noted the success of the trade partnership, with over 1,000 British companies holding investment licenses in Saudi Arabia and 55 firms, including BAE Systems and Rolls-Royce, operating regional headquarters in the Kingdom. The Saudi delegation showcased the Kingdom's aviation ecosystem, highlighting ongoing infrastructure projects, digital transformation efforts, and investment opportunities, including Riyadh Air's launch and the King Salman International Airport master plan. The presentation also detailed investment prospects in Saudi airports, covering implementation strategies, funding volumes, business opportunities, and incentives for investors. Concluding his speech, Al-Khuraisi invited UK investors and aviation leaders to seize new opportunities for collaboration, further strengthening the global aviation sector. The Saudi delegation also participated in the Civil Aviation Supply Forum, engaging with representatives from the British Aviation Group, UK Air Navigation Services, the UK Civil Aviation Authority, and other global aviation companies. The meetings, attended by British government officials and Saudi embassy representatives, focused on investment opportunities in civil aviation and airport development.
