RIYADH: The 4th Saudi-American Business Opportunities Forum has emphasized the importance of strengthening and deepening commercial ties that bind the business communities in both countries.

It also highlighted the significance of cooperation between the two governments with regard to strengthening bilateral economic and trade relations and the depth of the historical partnership that extends for decades as the basis for the formation of a partnership in the future.

This came at the conclusion of the forum, organized by the Ministry of Commerce and Industry on March 22 and 23.

The forum recommended the support of Saudi-US strategic partnership in the 21th century.

The forum also stressed Saudi Arabia’s determination to diversify its economy in order to create new job opportunities for Saudi citizens, increase local economic growth through the expansion of the areas of current economic activities and create new fields.

The conference explored measures to facilitate the entry of new American companies, especially small and medium-sized ones to the Saudi market, in line with the spirit of the strategic partnership between the US and the Kingdom.

The talks focused on enhancing the investment environment in the Kingdom through continuous development of trade legislation and developing business-friendly policies in cooperation with the private sector.

The US also confirmed its plans to share its experiences in attracting investment with the aim of promoting knowledge-based economy based that encourages free trade.

The forum witnessed 90 meetings while businesses that were discussed ranged in size between $50 million and $60 million.