RIYADH: Saudi Arabia and Norway are set to deepen economic cooperation in logistics, advanced manufacturing, and digitization following a two-day business forum in Oslo.
A delegation led by Saudi Arabia’s Minister of Commerce Majid bin Abdullah Al-Kassabi included 30 senior officials from key government entities and the private sector, and engaged in a series of ministerial meetings and business sessions to strengthen bilateral trade and investment ties, the Saudi Press Agency reported.
The talks took place against the backdrop of a 360 percent surge in bilateral trade between the countries from 2020 to 2024, reaching $828 million.
During the forum, Al-Kassabi highlighted the economic transformation driven by Saudi Vision 2030.
On his official X account, he said: “I discussed with my friend His Excellency the Minister of State for Labor and Social Integration, Kjetil Vevle, and the Minister of State for Fisheries and Ocean Affairs, Even Tronstad Sagbakken, areas of cooperation between the business sectors to develop skills that meet the aspirations of future labor markets, maritime logistics services, and smart mobility systems.”
He noted that the Kingdom has implemented more than 900 legislative and regulatory reforms to build a competitive economy, helping to propel Saudi Arabia’s gross domestic product to over $1.3 trillion, making it the largest economy in the Middle East.
Majid bin Abdullah Al-Kassabi. X/@malkassabi
The minister told more than 130 government and private-sector leaders that Norwegian companies are already active in the Kingdom, with plans to expand cooperation in logistics, advanced manufacturing, and digitization.
The ministerial agenda included meetings with Norwegian officials, including Minister of Trade and Industry Cecilie Myrseth on trade and reform experiences, Minister of Labour and Social Inclusion Kjetil Vevle on skills development, and Minister of Fisheries and Ocean Policy Even Tronstad Sagebakken on port development, maritime logistics, and smart mobility systems.
The business segment featured a meeting with Svein Tore Holsether, president of the Confederation of Norwegian Enterprise. Holsether said Saudi Vision 2030 has encouraged many Norwegian companies to collaborate with Saudi partners, noting that over 100 Norwegian companies visited the Kingdom in the past year.
The forum also held three specialized workshops focused on maritime technology, innovation in aquaculture and fish farming, and promoting circular economy and industrial decarbonization solutions.
Delegates visited leading Norwegian companies on the second day, including DNV, a global leader in maritime risk management and quality assurance; TOMRA, a circular economy solutions provider through reverse vending and sorting systems; and Fishglobe, which specializes in sustainable aquaculture technology.
The visit concluded with a celebration of Saudi Arabia’s 95th National Day at the Saudi Embassy in Oslo, attended by Norwegian officials and members of the diplomatic corps.
