JEDDAH, 29 September 2005 — A Canada-Saudi forum in Canada is now a possibility with both countries working on the modalities to organize it in 2006. “We’re keen to host a forum on the pattern of the British-Saudi forum held in London last winter,” Canadian Ambassador Roderick L. Bell said yesterday.

“We’re determined to have it,” the ambassador told Arab News on the sidelines of a reception hosted to mark the visit of a Canada-Arab Business Council delegation at the InterContinental Hotel here.

The 24-member mission is here on the last leg of its tour after covering the UAE, the Eastern Province and Riyadh.

“With this visit, we hope to organize exchange of business visits between the two countries more often. In fact, this visit has come about after a gap of five years, and we can further build on the existing commercial relations between the two very big economies that are complementary,” he said.

Aside from the increase in business interests between the two countries, there has been an increase of Saudi tourists to Canada, most particularly Saudi students going for English, medical and other studies, Bell said and referred to the recent agreement with Saudi Basic Industries Corporation that will be sending 50 students selected from among best high school graduates to Canada for a year’s English training and then four years of graduation in engineering and business.

“I’m extremely happy that SABIC has chosen Canada instead of the United States,” he said. Saudi Aramco also does lot of training in Canada.

Canadian business interests are present across the Kingdom for many years and they are still active. “What we need to encourage more are medium size companies since they have not had much experience in the Middle East. That’s the real potential,” he added.

Lot of Canadian companies are opening franchises. Also, many Canadian products have been coming through third countries. “For example, we saw 50,000 Ford Crown Victorias in the Kingdom and they don’t appear in our official statistics,” he said mentioning how trade figures could be unreliable without such imports. “However, we’re going to do a lot more with Saudi Arabia.”

Saudi investments in Canada are significant, particularly in the hospitality sector and real estate. Prince Alwaleed ibn Talal is a major shareholder in the Four Seasons hotel chain that is expanding properties in Cairo, Damascus, Beirut and Jordan. “Canadian investments in the Kingdom is less developed and needs to be pushed further,” he said.

All the sectors are potentially good for investment in the Kingdom. The Kingdom is considering $620 billion worth of projects in the next 15 or 20 years. “Very big Canadian construction corporations will surely be interested in taking part in these big projects,” he said. Canada will also have additional interest in Saudi petrochemicals, but the focus will still be in real estate, he added. The mission is pleased and their visit has dispelled some apprehensions of doing business here. “From the media and North America you sometimes don’t gather truly an accurate picture of what’s happening on the ground. These visits are extremely valuable.

Mohamed M. Attar, honorary consul at the Canadian Consulate, said the economic boom currently witnessed across the Kingdom will enable the council to organize more visits. “We want more Canadian companies to participate in the Kingdom’s new projects.”

“We have sent 200 Saudi students to Canada in the past two-three years, and tourism is also on the upswing. Families have been increasingly going to Canada to spend their vacation.”

In the meantime, he said, “We are preparing for the Canada-Saudi forum meeting in Ottawa, probably in April or May.”

Council President Mohamed Azzam and Director General Richard Mann gave an overview of the increasing bilateral economic relations. The volume of bilateral trade, which stands at $1.6 billion, is on the increase. The trade remains in favor of the Kingdom because of the huge oil imports into Canada that are worth $1.1 billion. Canadian imports are around $500 million. “So there’s lot of potential for growth,” Azzam said.