RIYADH: The German-Saudi Arabian Liaison Office for Economic Affairs (GESALO), a Riyadh-based institution supported by Saudi and German governments, has set out a new vision to boost economic ties between the two countries. The new vision for the group was unveiled on the occasion of the weeklong celebrations that kicked off yesterday to mark the 30th anniversary of GESALO’s successful operation.
GESALO, whose mission is to support and to boost Germany’s bilateral economic relations with Saudi Arabia, Bahrain, Kuwait and Yemen, “has emerged as an active player and a trusted institution in the international business world,” said Gerd Doepner, a delegate of the German Industry and Commerce in Saudi Arabia, who supervises the growing operation of GESALO on a day-to-day basis.
Doepner said that the GESALO was organizing a high-profile function with a gala dinner on May 10 as part of the 30th anniversary celebrations.
The event will be attended by a number of officials and executives from Germany and Saudi Arabia. As special guests, GESALO is honored to welcome Minister of Finance Ibrahim Al-Assaf; German Minister of Economics and Technology Karl-Theodor zu Guttenberg; Martin Wansleben, CEO of the Association of German Chambers of Industry and Commerce; Fahad Al-Sultan, Secretary-General of the Council of Saudi Chambers of Commerce and Industry; and Volkmar Wenzel, German ambassador.
He said the GESALO, founded in 1978 as a delegation of the Association of the German Chambers of Industry and Commerce, has emerged as a major partner in the worldwide German chamber network.
“With its presence in 120 locations in 80 countries, the members of the German Chamber Network are of major importance to German industry in a world of integrating global markets,” said Doepner. “Together, they support German companies with building up and extending their business relations to foreign countries.”
He said that “the GESALO had emerged as an active player and a trusted institution especially in the business world of Saudi Arabia, utilizing services that range from market and address research, market entry support and the initiating of business cooperation between German and Saudi companies.”
Last year alone, he said, GESALO was able to bring more than 200 German companies to Saudi Arabia to partake in business cooperation initiatives.
“Overall, the GESALO has initiated and responded to over 40,000 business contacts in 2008,” noted Doepner.
The GESALO also represents leading German trade fair companies and recruits visitors and exhibitors from the region.
In 2008, German exports to Saudi Arabia totaled 5.33 billion euros. The Kingdom’s exports exceeded 1.5 billion euros. After the US and China, Germany ranks as the third largest exporter to Saudi Arabia with nine percent share of all imported goods.
