RIYADH, 17 April 2007 — A one-day visit of an eight-member Austrian businesswomen delegation to the Kingdom recently paved way for the promotion of mutual cooperation between the two countries in the field of investment, as attested by various business agreements to that effect.
The team, representing the different businesses sectors, had a discussion with the women committee of Saudi Chamber of Commerce and Industry.
The business delegation, representing telecommunication, medicine, travel and tourism, as well as other sectors, held discussion with members of the women committee of the Saudi Chamber of Commerce and Industry.
The group also held a meeting with some members of the academe, professors and female doctors.
“The visit constitutes a promising sign,” General Director of Businesswomen Committee at the chamber Majedah Alouni told Arab News. She added that “the fact that $11.2 billion (SR42 billion) are run by Saudi businesswomen is attractive to any foreign businesswomen to come and feel the effective role of Saudi women in the business field.”
“Many deals have been initially agreed on yesterday as a start, she said. The Austrian businesswomen had a chance to get a closer view of the business environment in Saudi Arabia and enabled them to clinch some deals in setting up businesses such as baby care centers as well supplying dermal products.”
Alouni said that the concept of “bazaars” as a “marketplace to sell food, textiles, jewelry, spices, and other valuable goods, is one of the remarkable commercial experiences that Austrian businesswomen are keen to create in Europe.”
She added that “it’s not familiar in Austria and other European societies.” Moreover, the visit was also a pleasant opportunity for the foreign delegation to discover Saudi Arabia for the first time. The delegation was toured to the most exciting landmarks and historical places in Riyadh.
Compared with other European countries, Austria has only few projects in Saudi Arabia.
A recent report released by Saudi Arabian General Investment Authority (SAGIA) shows that there are 14 licensed Austrian projects in Saudi Arabia valued at $34.8 million (SR130 million), three of them are industrial while 11 are services undertakings.
The total amount of trade exchange between Saudi Arabia and Austria amounted to $481 million.
The total amount of Austrian exports to the Kingdom is estimated at $26 million, while imports from the Kingdom are at the tune of $455 million, which are mainly crude oil, crystal products and textile.