RIYADH, 1 April 2004 — The Right Honorable the Lord Mayor of London Robert Finch has affirmed the need for more international law firms to operate in Saudi Arabia.
He said the firms could handle international transactions and resolve disputes involving Saudi financial and business organizations. The presence of foreign lawyers will also help to train Saudi lawyers while giving advice to local companies on relevant matters.
Addressing a press conference at the British Embassy on Tuesday, he called for “prominent international law firms to operate in the Kingdom. If these firms are allowed to function, they can render great help to local firms and financial institutions.”
The call by the Lord Mayor comes as the Kingdom is streamlining its legal profession. It has already granted more than 338 new licenses to Saudi lawyers within the framework of new regulations recently introduced by the Ministry of Justice.
The lord mayor also spoke about growing Saudi-British commercial relations in different sectors.
Referring to talks with Finance Minister Dr. Ibrahim Al-Assaf, Commerce and Industry Minister Dr. Hashim Yamani, Water and Electricity Minister Dr. Ghazi Al-Gosaibi, Saudi Arabian Monetary Agency Vice Governor Dr. Muhammad Al-Jasser, the Lord Mayor said that “discussions with Saudi officials focused on how to improve trade and commercial relations between the two countries.”
He identified seven sectors — insurance, education and training, banking, water, power, railways and telecommunication — in which London could offer expertise to Saudi Arabia.
