RIYADH, 23 November 2005 — The London-based Arab-British Chamber of Commerce (ABCC) is to launch a series of new projects beginning January next year to strengthen the Arab-British trade relations.
“The ABCC will set up a Business Information Center (BIC) in London and also form an Arab-British Forum to facilitate businessmen of the member countries to identify and carry out projects of mutual interests,” Sir Roger Tomkys, chairman of the Arab-British Chamber of Commerce told newsmen here on Monday. Sir Roger who was on a visit to the Kingdom with ABCC Secretary General and Chief Executive Dr. Mohamed Smadi, was addressing a press conference at the British Embassy. The mission’s Information Officer Barrie Peach and the Deputy Director of Trade and Investment for Saudi Arabia Sharon Wardle were also present at the media briefing.
“The proposed BIC will give detailed information for all small and medium scale industrialists to have market access to Britain and European countries,” Sir Roger said pointing out that such a service would help prospective Arab businessmen to identify and develop new areas of trade in the countries of their interests. Under the umbrella of the Arab British Forum, Sir Roger said he hoped to clear the misconceptions prevailing in Britain on the Kingdom and other Arab countries. He hoped to organize exchange of visits, seminars and dialogues between the British and Arab businessmen to improve the existing business relations between them.
A total of 22 Arab countries are affiliated to ABCC whose team of key officials is currently touring the region to propagate its new plans and programs among the member nations. The visiting team would also visit United Arab Emirates and Kuwait after covering Dammam and Jeddah during this lap.
Sir Roger said the Saudi businessmen have agreed to exchange trainee business executives for training in various fields, “ This would help the trainees to understand the business environment in the two countries.”
ABCC also plans to publish an annual business directory which would have economic profiles of all it members including Britain.
According to Sharon Wardle, the bilateral trade between the Kingdom and Britain stands at 2.8 billion pounds, while UK imports from Saudi Arabia were valued at 1.2 billion pounds last year. United Kingdom’s investment in the Kingdom is estimated at $3.5 billion.