Saudi-EU collaboration vital for the Kingdom’s economic transition, says minister

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Saudi Arabia’s Investment Minister, Khalid Al-Falih, highlighted the significant opportunities for investment and trade cooperation between the Kingdom and Europe during the Saudi-EU Investment Forum. Over 1,300 European companies have invested in Saudi Arabia, and trade between the two reached €80 billion in 2022, marking a 30% increase from the previous year. The European Commission Executive Vice President, Maros Sefcovic, emphasized the desire to foster closer cooperation between the EU and Saudi Arabia, including the creation of a European Chamber of Commerce in Saudi Arabia. Areas of mutual interest for investment potential include green hydrogen, renewable energies, green technology, mining, entrepreneurship, biotech, and raw materials.

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