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Saudi, British Coys Seek to Explore Sustainable Partnerships

POSTED ON June 24, 2024 •   Business      BY Abiodun Saheed Omodara
Participants in the Great Futures Initiative conference which was recently held in Riyadh l Photo Credit: Asharq Al-Awsat

The UK-Saudi Sustainable Infrastructure Summit in London on June 24-26 will see the participation of several major national companies. 

The Federation of Saudi Chambers aims to engage a large number of companies specialized in sustainable infrastructure to explore partnerships with the United Kingdom in green construction, smart cities, and technologies. 

The summit will focus on the significance of Saudi-British cooperation in developing and financing sustainable infrastructure, city development, green technology, and renewable energy initiatives.

Following the summit, sectoral working groups will meet on June 25, and an evening celebration will mark the tenth anniversary of the British-Saudi Business Council. 

The Sports Investment Forum is scheduled for June 26. The trade exchange between Saudi Arabia and Britain has already exceeded 17 billion pounds ($21 billion), with plans to increase bilateral trade volume to $37.5 billion by 2030.

In May, Riyadh hosted the Great Futures conference as part of the Saudi-British Strategic Partnership Council, chaired by Saudi Crown Prince Mohammed bin Salman and UK Prime Minister Rishi Sunak. 

The conference aimed to strengthen economic relations and explore opportunities in various sectors through 60 initiatives. 
Saudi Minister of Commerce Dr. Majid Al-Qasabi, highlighted the promising opportunities for economic diversification and emphasized the joint cooperation between the two countries in commercial, financial, digital, and cultural fields.

In May, Riyadh hosted the Great Futures conference, an initiative of the Saudi-British Strategic Partnership Council chaired by Saudi Crown Prince Mohammed bin Salman and UK Prime Minister Rishi Sunak. 
The conference focused on strengthening economic relations in various sectors and enhancing trade and mutual investment. 

Through 60 initiatives in 13 sectors, the two kingdoms explored opportunities to boost economic, trade, and investment partnerships.

During the May event, Saudi Minister of Commerce Dr. Majid Al-Qasabi, highlighted the United Kingdom's position as the world's second largest exporter of services and emphasized the promising opportunities for diversifying the economy. 

He also underscored the joint cooperation between the two countries across various fields, particularly in commercial, financial, digital, and cultural domains

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