LONDON, 4 March 2005 — A Saudi delegation headed by Foreign Minister Saud Al-Faisal, which attended a two-day conference in London, has returned to the Kingdom with positive feedback and recommendations to further enhance economic ties between the countries. The conference was held on the theme: “Two Kingdoms: Facing the Challenges Ahead.” The Saudi Committee for the Development of International Trade played a seminal role in arranging for the sessions and bringing together a delegation that represented a wide Saudi perspective.
The conference agenda focused on trade relations between Saudi Arabia and the United Kingdom. Saudi Arabia is UK’s leading trade partner in the Middle East. Saudi Arabia ranks 25th amongst the 60 largest importers from the UK, according to the UK’s National Office of Statistics data for the year 2002. The value of trade between the two countries for the three quarters of 2003 reached $3.04 billion compared to $3.18 billion for the whole year 2002.
The discussions also covered bilateral relations in many areas including vocational training, media exchanges and economic reform. The British foreign minister asserted in a speech he delivered on the first day of the conference that Saudi-UK relations go far beyond economic ties, cited the joint efforts to fight terrorism, and the shared commitment to support the Iraqi people.
The delegation visited the House of Lords, the Lord Mayor of London and had a meeting at the ISF, where they discussed business opportunities for Saudis, the investment environment in Saudi Arabia and the areas where investment goes into areas such as electricity, water and mining. During a lunch with the Lord Mayor the members of the delegation also discussed the latest developments in the Saudi stock market.
The participants of the conference formed working groups that simultaneously held meeting with British counterparts. The groups discussed economic reform, the role of women in civil society and ways and means to qualify young Saudis for the workplace.
Opening speeches were delivered by British Ambassador to Saudi Arabia Sir Sherard Cowper-Coles who emphasized the importance of Saudi-British relations working for world safer from terrorism, sustaining development and managing change.
Saudi Ambassador to the UK Prince Turki Al-Faisal gave a speech on the change in Saudi Arabia and the importance of creating bridges between the two countries.
The conference ended on a positive note and recommended a follow-up committee to supervise the formation of two ventures to enhance vocational training and media training and to develop educational and commercial exchanges between the two countries.
