Saudi-British Joint Business Council Explores Investment Opportunities in Civil Aviation
The Saudi General Authority for Civil Aviation (GACA) held a roundtable meeting for the Saudi-British Joint Business Council (SBJBC) on July 24, 2024 in London, reported the Saudi Press Agency (SPA).
The meeting explored investment and cooperation opportunities in the civil aviation sector. It also discussed ways to strengthen investment relations between Saudi Arabia and Britain, promote efforts towards developing economic and investment ties between both countries. It also reviewed ways to enhance quality investments, and enable the private sector to benefit from investment opportunities in both countries.
GACA President, Abdulaziz bin Abdullah Al-Duailej, chaired the meeting, with the attendance of the director general of the Aviation, Maritime, and Security Group at the British Ministry of Transport, Dr. Rannia Leontaridi; and the head of the British delegation in the council, Jennie Gubbins, in addition to a delegation from the Saudi-British Business Council, vice presidents, CEOs, officials, and experts in the aviation field.
Saudi-British Economic Relations
In his opening remarks, the GACA President underscored the strength of relations between Saudi Arabia and Britain. He said that the economic relations focus on a successful business and investment partnership.
He pointed to the total value of Saudi exports to the UK, which reached SAR1.36bn by the first quarter of 2024, while the annual growth rate of Saudi exports to the UK reached 5.82%, reflecting the strength of economic relations.
The GACA President added that the UK is a key source in the European market. In 2023, passenger traffic between the Kingdom and the UK reached nearly 1 million passengers, with a 50% increase compared to a year earlier.
Enhancing Civil Aviation Sector
Al-Duailej also highlighted Saudi Arabia’s strategic location at the crossroads of three continents, and the Kingdom’s commitment to developing infrastructure for the civil aviation sector which bolsters commercial relations between both countries.
To this end, GACA is exploring innovative solutions in aviation, including advanced air mobility (AAM) and air traffic management systems, where artificial intelligence and digital technologies will play a crucial role in enhancing the aviation experience and improving operational efficiency.
After that, the delegation presented an overview of the National Aviation Strategy, its accomplishments, its role in enhancing air connectivity to reach 250 destinations, the use of technology and digital transformation, and initiatives for advanced air mobility and environmental sustainability in civil aviation activities.
Furthermore, the Saudi Air Navigation Services Company (SANS) signed a framework agreement with the British National Air Traffic Services (NATS) to enhance airports capacity.
