JEDDAH, 2 March 2004 — Saudi businessmen doing business in Switzerland were present at a reception hosted by the Swiss consul general, Urs Badertscher, at his residence on Sunday night.

2003 was a bad year for business, influenced by SARS and the war in Iraq. Even then, the exchange of goods between the Kingdom and Switzerland “developed well” and for the second consecutive year, Swiss exports to the Kingdom exceeded 1.1 billion Swiss francs (well over SR3 billion). Emphasizing these positive aspects, Badertscher said this was the second time that he hosted a meeting to bring together the business community which was interested in Swiss products and services. Business relations between the two countries continue to improve. “All of you have contributed to these positive developments,” he said.

Aside from expanding business relations, Saudis also visit Switzerland for business and pleasure. Their family visits for tourism have increased considerably over the years. More importantly, the diplomat said, children from this part of the world have been going to Switzerland for education and health care. These trends indicate that Switzerland has some of the best educational institutions and medical centers.

“We at the consulate would like to help you in expanding and further developing contacts in Switzerland, especially in areas such as business, education and health care,” he said and introduced the consulate team that includes Sherif S. Ahmed and Sbitri Houssine.

The consul general introduced local dealers to Swiss products including chocolates, cheese and other food items. A Swiss tourism team is due to visit the Kingdom to further boost tourist traffic during the holiday season.

In focus were some facts about Switzerland which is known worldwide for its private banking and financial services. The country, known for its mountains, depends on the success of Swiss companies in international markets. In most sectors, the export market is more important than domestic business.

The Swiss economy has a strategic interest in further liberalization steps within the framework of the World Trade Organization. Binding trading regulations at a global level are particularly important for Switzerland which does not belong to any of the large economic blocks. All its outlay for education, training and research represents an investment in the future.

The Federal Council is focusing on education, training, research and technology for 2004-07.

EMAAR

Dubai-based EMAAR has announced that the Dubai Mall will house the world’s largest indoor gold soak, Replete with hundreds of stalls, meandering walkways and traditional soak architecture, the Gold Souk will feature the largest collection of indoor gold retailers under one roof. The Gold Souk, with a total area of 25,331 sq. m., will be centrepiece to the Dubai Mall, described as the world’s biggest. Construction of the Dubai Mall, which begins this year nestles in the shadow of Burj Dubai, the world’s tallest tower and is pivotal to plants to make Dubai a global shopping capital. Hundreds of stalls from major gold retail houses will be intricately linked among meandering internal shopping streets bearing the richness of traditional souk architecture. “The concentration and central location of the souk within the Dubai Mall allows shoppers to be absorbed in the scale, texture and charm of a traditional souk without being distracted by other marvellous attractions of the mall,” said Ibrahim Al-Hashemi, executive director of EMAAR Properties Retail and Leasing Department.