RIYADH, 11 September 2003 — Two years after Sept. 11, the US has reported a 61 percent surge in bilateral trade with the Kingdom, indicating a strong recovery in commercial ties.
China also reported a growth of $1 billion annually in bilateral trade and Germany a 14 percent increase in its exports to the Kingdom in the last two years, while Britain cited $7.5 billion in two-way trade, indicating a healthy growth in trade relations.
“There has clearly been an impact on the US-Saudi relationship, as both our governments have had to address the very real and immediate threat of terrorism and extremism,” US Ambassador Robert Jordan told Arab News.
“I think these challenges have forced both our governments to work harder together, and we have made great efforts to understand each other and learn how to cooperate. I would say that despite much of the negative commentary from media on both sides since Sept. 11, the relationship has actually deepened and improved due to our joint efforts to combat the threat of terrorism.” The ambassador said that despite these challenges, right after Sept. 11 and through 2002, imports of US products into Saudi Arabia remained flat. “But now, in the first four months of 2003, trade between our two nations grew 61 percent compared to the same period last year, reaching almost SR30 billion. We hope to see this number rise ever higher,” he added.
However, Barrie Peach, press and political officer at the British Embassy, said: “The number of Saudis visiting the UK has declined slightly since Sept. 11. But more Saudis have visited the UK this year than last. We have also noticed an increase in the number of Saudi students choosing to study in the UK.”
The major beneficiaries in the field of tourism and education seem to be Malaysia, Australia, Egypt and Lebanon, according to travel industry sources, who have reported great demand for those destinations this summer.
The British Embassy said Saudi Arabia remained by far the UK’s largest trading and investment partner in the Middle East.
In a written statement, Li Huaxin, charge d’affaires at the Chinese Embassy, said China’s bilateral trade with the Kingdom has been surging ahead during the past two years — $5 billion in 2002 and $6.5 billion estimated this year. China’s mechanical and electronic products, including TV sets, have made their way to the Saudi market, while Chinese companies continued to set up factories in the Kingdom.
“The three biggest Chinese oil companies were invited to the seminar on the Saudi gas initiative. Bilateral trade is expected to increase further with the holding of the Sino-Saudi Joint Committee for Economic Cooperation in Beijing late this year,” Li said.
According to Elmar Jakobs, first secretary for political and press affairs at the German Embassy, German exports to the Kingdom have shot up by 14 percent during the last two years. He said there was a 30 percent increase in tourism and a staggering 100 percent growth in the number of Saudis visiting Germany for medical treatment. The US was previously the most popular destination for those seeking treatment.
“Our latest figures show that in the first five months of this year the UK exported goods to Saudi Arabia worth about SR4.8 billion, which represents an increase on the corresponding period in 2001, when the British exports to the Kingdom were about SR3.5 billion. British services exports to the Kingdom were worth around SR12 billion a year,” he said.
