They, however, said some small Saudi economic sectors might feel the pinch but the other big sectors will stay away from these fluctuations.

"Some Saudi importers and investors working in European countries may one way or the other feel the problem but the country at large will remain safe," Muhammad Al-Nifaie, chairman of the securities committee at the Jeddah Chamber of Commerce and Industry (JCCI) told a meeting at the chamber on Sunday, which discussed the impact of the euro zone debt crisis on the Kingdom.

"The meeting, attended by a number of economists and businessmen, focused on the impact of the crisis on the Saudi market so as to increase transparency and enable investors to take correct decisions while dealing with Europe," he said.

Al-Nifaie also said the meeting discussed means of further improving the performance of the Saudi financial companies including the Stock Exchange Company (Tadawul) with a view to making them more attractive to investors. He said the meeting was part of the committee’s efforts to help Saudi investors decide where to invest their money.

JCCI Secretary General Adnan Mandoura, meanwhile, said the meeting, organized in collaboration with Al-Bilad Investment Company and Tadawul, was part of the chamber's efforts to communicate with economists, businessmen and investors.

"The Saudi economy has a strong base, which will protect it from any financial fluctuation or upheaval," he added.