British Foreign and Commonwealth Office Minister Lord David Howell and Minister at the Department for Energy and Climate Change Lord Jonathan Marland held talks with a range of Saudi ministers and senior government officials as well as business leaders.

The two ministers met Riyadh Gov. Prince Salman on Monday and discussed issues of bilateral interests. They also held discussions with Prince Abdulaziz bin Salman, assistant minister of petroleum and mineral resources and King Saud University Rector Abdullah Al-Othman.

They also visited the headquarters of King Abdullah City for Atomic and Renewable Energy in Riyadh.

Speaking at the International Energy Forum (IEF) on Monday, Howell, who holds the international energy portfolio at the UK Foreign Office, said the IEF has a unique role in bringing together oil importing and exporting countries to facilitate the transparent flow of information about energy markets and greater dialogue on policy issues.

“Saudi Arabia is the heart of world oil production that underpins global markets, so it is of no surprise that it should be the home of the International Energy Forum. And I would like to note the UK government’s appreciation of the strong support given to the IEF by the Kingdom of Saudi Arabia,” Lord Howell said, adding that the role of producer states in ensuring price stability is crucial.

“It is important to recognize the contribution made by Saudi Arabia and other OPEC producers for having quickly made clear their willingness to enhance price stability by making up for Libyan shortfall.

“We are very grateful for these actions, and feel confident that producers would take similar steps again in future, if necessary.”

Lord Marland met separately on Sunday night with Saudi and British business people in his role of overseeing Britain’s network of trade ambassadors. The trade ambassadors work with UK Trade and Investment, the British government’s international trade body, to promote British business overseas.

Lord Marland, who joined the government following a successful business career, looked at how British and Saudi governments could support the private sector in driving sustainable and mutually beneficial growth.

Prior to his departure, Lord Marland said: “Saudi Arabia is a crucial commercial partner for the UK. Our two kingdoms have a long history of successful collaboration, which has built prosperity, employment and opportunity for both sides. I will be looking to work closely with the Saudi public and private sectors to strengthen our existing links.”

The UK enjoys an extensive trade relationship with Saudi Arabia, which is worth £4.5 billion a year to the two economies. In addition, the two countries are major investors in each other, with UK investment in Saudi Arabia amounting to £20 billion. Major British businesses operating in Saudi Arabia include HSBC (through SABB), BAE Systems, and Shell. The two ministers left for the UAE on Monday.