Saudi-German forum to explore business opportunities

Saudi-German forum to explore business opportunities
Updated 26 October 2013

Saudi-German forum to explore business opportunities

Saudi-German forum to explore business opportunities

The Council of Saudi Chambers (CSC) and the Association of German Chambers of Commerce and Industry (DIHK) are organizing a Saudi-German business forum in Berlin on Nov. 11.
“An agreement for the establishment of a Saudi-German Business Council (SGBC) will be signed during the event. This is part of the plan to further strengthen bilateral ties, particularly in trade between the private sectors of the two countries,” German Ambassador Dieter W. Haller told Arab News over the weekend.
The forum being organized with the delegation of German Industry and Commerce for Saudi Arabia and Yemen as co-organizer, also aims at providing information on business opportunities as well as establishing closer political and economic links between the two countries.
The agreement will be signed by Abdullah Al-Mobty, CSC chairman, and his German counterpart, Eric Schweiter, DIHK chairman, he said, adding that the SGBC will meet under the umbrella of the North Africa Middle East Initiative of German Business (NMI).
He said that a meeting between the two chambers is held annually in the Kingdom as well as in Germany.
Andreas Hergenroether, delegate of the German Industry and Commerce for Saudi Arabia and Yemen, said the forum will focus on transfer of know-how, infrastructure and energy efficiency. “Saudi Arabia remains Germany’s biggest trade partner in the region. German exports to Saudi Arabia totaled $7.5 billion during the period January-July 2013, up 12 percent from the corresponding period last year,” he said.
For the first time, Hergenroether noted, that the Kingdom’s ongoing and planned projects hit the $1 trillion mark in October 2013 and remains number one in the Middle East and North Africa (MENA) region. There is still strong potential for further cooperation due to the large investments in infrastructure, petrochemicals, energy and education, he said.
He said Stefan Kapferer, state secretary at the Federal Ministry of Economics and Technology, will address the forum on behalf of the German government while Hameed Al-Bazai, deputy minister at the Ministry of Finance, will speak for the Saudi side.
The Saudi delegation will include Prince Saud bin Khaled Al-Faisal, deputy governor for investment affairs at the Saudi Arabian General Investment Authority (SAGIA); Mohammad A. Alazzas, general manager of the Value Parks Department of SADARA Chemical Company; Mansour Al-Shathry, chairman of Al-Shisri Group of the SME Development Center of the Riyadh Chamber of Commerce and Industry; Usama M. Al-Kurdi, president of Alagat Company and member of the Consultative Council of Saudi Arabia (Majlis Al-Shoura); and Ali bin Saleh Alothaim, chairman of the Saudi National Committee for Young Businessmen and chairman of the Gulf Rose Group.