Businessmen from the Kingdom and Denmark have pledged to forge ahead to strengthen their bilateral trade for mutual interests.

The joint commitment followed discussions between the businessmen of the two countries at a meeting at the Council of Saudi Chambers (CSC).

The Saudi team of businessmen was led by CSC Chairman Abdullah Al-Mobty.

Danish Trade and Investment Minister Pia Olsen Dyhr was leading a group of representatives from 30 Danish companies.

She said her country would like to cooperate in the field of renewable energy, hydropower and drinking water.

The meeting mainly focused on the promotion of joint ventures in the two countries and explored possibilities of opening new areas of cooperation in their bilateral trade.

Al-Mobty told the Danish businessmen that the Kingdom has a host of opportunities for foreign investors to develop their businesses in various sectors.

He pointed out that there are ample opportunities for investment in health and industrial sectors.

Responding to the call of Al-Mobty, Dyhr paid a fitting tribute to the Saudi government for maintaining a robust economy through its wise economic policies.

“We have witnessed a steady growth in the Saudi economy and we would like to participate in the national development of the country by strengthening bilateral trade,” she noted.

Dyhr said that the business team accompanying him would identify viable projects in the Kingdom that could be initiated for mutual benefits.

The bilateral trade between the two countries is estimated to be around SR 6 billion.

She said that there was a 30 percent increase in the Danish exports to the Kingdom, while there was a 50 percent increase in Saudi exports to Denmark last year .

Danish products and services exported to the Kingdom included mainly pharmaceuticals, foodstuffs, engineering consultancy, security systems and construction materials, while the Kingdom’s products cover petrochemicals.

Khalid Al- Otaibi, secretary-general of the Council of Saudi Chambers, made a presentation about the opportunities available in the Kingdom for foreign investors.

Al-Otaibi outlined the opportunities available for foreign direct investment in the Kingdom and the investment opportunities in the relevant sectors.

He said the Kingdom plans to construct 500,000 thousand housing units and also opportunities available in the energy, petrochemical, technical education, health, agriculture and enterprise sectors as well as in mmall and medium-sized enterprises.(SMEs)

Dyhr also met with Minister of Commerce and Industry Dr. Tawfiq Al-Rabiah here.

During the meeting, the two ministers discussed ways of boosting trade, industrial cooperation and the encouragement of the private sector in the two countries to establish joint commercial and industrial projects.