"Our missions have been visiting the three big cities (Riyadh, Jeddah and Dammam) on a regular basis, but it is perhaps for the first time they have chosen to strengthen their presence in Makkah and Madinah in addition to Jeddah," Amer M. Kayani, counselor for commercial affairs at the US Embassy in Riyadh, said at the mission's business meeting here on Saturday.
The markets in the holy cities are ever expanding due to religious tourism. In addition to traditional sectors, the delegation is exploring new areas including renewable energy, and smart building and wastewater technologies.
Kayani, who is coordinating the visit of the mission representing nine major companies belonging to different sectors of industry, said the delegation, organized by the US-Saudi Arabian Business Council, was also exploring the prospects for partnership opportunities with local companies. The council, whose board of directors consists of prominent businessmen from both countries, works toward increasing trade and investment by promoting broader understanding among US and Saudi companies, as well as specific business opportunities.
The mission, which leaves for Madinah on Sunday, comprises companies dealing in health care, construction and building materials, infrastructure, IT and consultancy. The current visit follows the tour of a Saudi delegation to the US in April. It was related to oil and gas, and offshore technology. Later in June, a large trade mission representing companies in health care and water treatment, and headed by a senior US official visited the Kingdom.
According to Kayani, the bilateral trade continues to expand and the current effort is to further boost the two-way economic relations. For the US, the Kingdom is the 20th largest export market. The trade volume between the two countries in 2008 was $60 billion, with US exports accounting for $12.5 billion, which was five to six percent more than in 2007. While the US has been importing mainly oil and petrochemical products from the Kingdom, it has been exporting mainly automotives, machinery, construction and IT products, franchises and services.
