Saudi Arabia and Germany have further enhanced bilateral relations across various sectors, including economy, trade and investment.
In a series of meetings in Riyadh, both sides discussed the recent regional and international developments, explored ways to bolster economic and energy relations, and signed new agreements to enhance collaboration.
President of Germany in Riyadh
On Sunday evening, the German President, Frank-Walter Steinmeier, arrived in Riyadh, Saudi Arabia. He was warmly received at King Khalid International Airport by the Governor of Riyadh Region, Prince Faisal bin Bandar bin Abdulaziz, and several Saudi senior officials, according to the Saudi Press Agency (SPA).
On Monday, the Saudi Crown Prince and Prime Minister, Mohammed bin Salman, received Steinmeier and his accompanying delegation at the Royal Court in Al-Yamamah Palace in Riyadh.
📹 | HRH the Crown Prince holds a session of talks with the President of Germany.
— Foreign Ministry 🇸🇦 (@KSAmofaEN) February 3, 2025
The Crown Prince welcomed Germany’s President and wished him and his delegation a pleasant stay. On his part, the German President expressed his gratitude for the warm reception and hospitality.
Saudi-German Talks
The Saudi Crown Prince and the German President held official talks at Al-Yamamah Palace. During their meeting, they explored the relations between Saudi Arabia and Germany and ways to further strengthen them.
Furthermore, both leaders discussed the latest regional and international developments and efforts made towards addressing them.
Several Saudi high-ranking officials attended the meeting, including the Riyadh Region Governor, Prince Faisal bin Bandar; Minister of State and Cabinet Member, Prince Turki bin Mohammed; and Minister of Sport, Prince Abdulaziz bin Turki. In addition, the Minister of Commerce, Majid Al-Kassabi; Finance Minister, Mohammed Al-Jadaan; and Minister of Investment, Khalid Al-Falih and other ministers were present.
Meanwhile, the German delegation included the Federal Parliament member and Minister of State at the German Federal Foreign Office, Katja Kuehl; German Ambassador to Saudi Arabia, Michael Kindsgrab; and other officials.
Saudi Arabia and Germany Foster Economic Ties
Saudi Arabia and Germany enjoy robust economic relations, which have strengthened under the economic diversification plans of Saudi Vision 2030. The Kingdom is Germany’s second most important trading partner in the Arab world, according to the German Federal Foreign Office. The main German exports to Saudi Arabia include machinery, motor vehicles, chemical products, and electrical, precision engineering and optical goods.
To further boost economic cooperation, the Saudi Minister of Economy and Planning, Faisal Alibrahim, met on Sunday with the German Minister of Finance, Jörg Kukies, according to SPA.
During their meeting, both ministers explored areas of joint cooperation across the economic, trade and investment sectors. They also discussed several topics of mutual interest.
Saudi-German Roundtable
On Sunday, the Saudi Minister of Finance, Mohammed Al-Jadaan, chaired the Saudi-German Roundtable Meeting in Riyadh, with the participation of some of the largest private sector companies from both countries. The Roundtable Meeting aimed to boost bilateral ties and explore venues for joint cooperation.
During the meeting, the Saudi Finance Minister stressed that Germany is a key economic partner for Saudi Arabia, highlighting the robust economic cooperation between both countries, which has strengthened over the years.
Moreover, Al-Jadaan showcased the key aspects and achievements of Vision 2030, including legislations that have enabled the private sector to take part in the developmental process for the benefit of all stakeholders. In the light of this, Al-Jadaan noted that Saudi Arabia has introduced multiple reforms that encouraged foreign direct investment (FDI).
The Saudi Finance Minister also said that the Saudi-German relations are based on the Kingdom’s human capital and its expertise in traditional and renewable energy, as well as Germany’s industrial and manufacturing power.
Engaging the Private Sector
Furthermore, the Roundtable Meeting discussed the latest economic developments in Saudi Arabia and Germany. It also explored ways for fostering cooperation between the private sector of both countries in areas such as renewable energy, petrochemicals, mining, healthcare, digital transformation, artificial intelligence (AI), infrastructure, transportation, logistics, financial services, and tourism.
The Saudi Ministry of Investment, the National Center for Privatization, and the Financial Sector Development Program also showcased the key achievements and the available investment opportunities.
Energy Cooperation between Saudi Arabia and Germany
Saudi Arabia and Germany have taken further steps to strengthen their energy cooperation. On Sunday, the Saudi Minister of Energy, Prince Abdulaziz bin Salman, and the German Minister of Finance, Jörg Kukies, held a meeting in Riyadh.
Both ministers discussed topics of common interest in the energy sector, in addition to Saudi Arabia and Germany’s efforts in the field of green hydrogen production, in the light of the memorandum of understanding (MoU) the two countries signed in 2021.
Green Hydrogen Export Plans
After their meeting, Prince Abdulaziz and Kukies witnessed the signing of a new MoU to launch the Saudi-German Green Hydrogen Bridge between Saudi ACWA Power and German SEFE, one of the largest energy trading companies in Europe.
The MoU aims to produce and export green hydrogen and green ammonia from Saudi Arabia to Europe. Under the MoU, both companies will cooperate in joint projects, setting an initial target of annual 200,000 tons of green hydrogen exports from Saudi Arabia to Europe by 2030.
According to the MoU, ACWA Power will be the developer, investor and main operator of green hydrogen and green ammonia production assets, while SEFE will act as co-investor and key offtaker to market green hydrogen to the company’s customers in Germany and Europe.
This move aligns with the Saudi-German Energy Dialogue, established in 2019, with the aim of encouraging dialogue between the industry stakeholders and the public sector of both countries. Moreover, Saudi Arabia and Germany enhanced their energy cooperation by signing an MoU of a Clean Hydrogen Alliance in 2021, according to the German-Saudi Arabian Liaison Office for Economic Affairs (GESALO).