JEDDAH, 23 March 2008 — An international forum for the seafaring and ports is set to open today in Jeddah.

The forum being held in the light of the rapid developments in the seafaring shipping industry aims at laying down new action plans to strengthen the lead role of the Kingdom with the increased participation of the national work force,” Tariq Al-Marzouqi, president of the organizing committee for the Saudi International Forum for Sea Ports and Shipping told Arab News yesterday.

Makkah Governor Prince Khaled Al-Faisal will attend he opening of the three-day forum, which carries the motto, “Futuristic Vision in the Age of Globalization.”

“The first forum on seafaring and ports is significant in the light of the lifting of trade barriers in the new world economic order and the influx of investments to the Saudi and Gulf ports sector making the Saudi economy shift from an importing and consuming country to a manufacturing and exporting power,” Marzouqi said.

The major topics to be discussed at the forum include the changing shipping concepts, shipping and transshipment, present and future of ports, future expansion schemes of the Saudi Ports Authority (SPA) and investment opportunities and financing options in the shipping sector.

The forum will also discuss the issues related with container shipping, oil tankers and chemicals shipments besides passenger services.

Commenting on the added significance of today’s forum Khaled Ahmed Abdul Rahman Bubshait, chairman of SPA, said “the timing of the international forum is important particularly when the political and economic status of the Kingdom has registered remarkable growth both regionally and internationally. All we hope is that the forum would achieve the goals for which it is being held.”

Bubshait, said the annual forum would serve as a stage to discuss the issues and challenges facing the ports and shipping industry in the Kingdom.

More than 700 Saudi and international experts, representatives of official organizations in the sector and investors and financiers are participating in the event.

The forum will also accompany an international exhibition on ports with the participation of establishments and companies in the sphere of logistic services, seafaring administration and technology, ports equipment, safety systems environmental solutions and shipping insurance besides banks and investors.

Bubshait pointed out that the government spent a total of SR38 billion to establish, develop and maintain the ports in country while the new annual budget allocated SR928 million for new port projects besides SR300 million as surplus from last year’s budget. On the other hand the private investors spent SR4 billion for new equipments and accessories and the construction of new container terminal re-export zone at the Jeddah Islamic Port and the expansion of the container terminal at the King Abdul Aziz Port in Dammam. The combined investments resulted in a 47 percent increase in the capacity of the container handling in these ports from 91 million tons in 2000 to 134 million tons in 2006, he said.

Nineteen companies are sponsoring the forum while four main sponsors donated SR500,000 each for the forum.