Saudi Arabia Concludes Participation in 4th Silk Road Forum
Saudi Arabia General Authority for Foreign Trade recently concluded its participation in the fourth edition of the Tbilisi Silk Road Forum, held on 26-27 October 2023, in Tbilisi, Georgia. Under the theme “Today’s Connectivity, Tomorrow’s Flexibility,” the forum aimed to foster partnerships and mutual interests among international stakeholders along the Silk Road, attracting over 2000 participants.
Silk Road Participation Highlights
Headed by Abdulaziz bin Omar Al-Sukran, the Deputy Governor for International Relations, the Saudi delegation engaged in 5 main sessions and 5 sub-sessions, alongside a variety of side events. The forum served as a platform to enhance Saudi Arabia’s relationships with participating countries, especially focusing on boosting its trade cooperation and elevating the level of mutual investments.
Fostering Saudi-Georgian Business Relations
A key outcome of the forum was the signing of an agreement establishing the Saudi-Georgian Business Council. This council aims to acquaint representatives of both nations with the direct and indirect investment climates, encouraging business visit exchanges, and solidifying economic relations between Saudi Arabia and Georgia.
Trade Exchanges
In 2022, the trade exchange between Saudi Arabia and Georgia amounted to 206 million Riyals, with plastics and its products being the major exports from Saudi Arabia, while carpets were the chief imports from Georgia.
A Step Towards Global Trade Advancements
The forum aligns with the General Authority’s objective of enhancing Saudi Arabia’s international trade gains and defending its interests in foreign trade sectors, contributing to its national economic development.
