Saudi-Irish Business Forum Discusses Their Economic Cooperation
The Saudi Chambers of Commerce organized a Saudi-Irish business forum in Riyadh .
The event was attended by Neil Richmond, Irish Minister of State for Business, Enterprise, and Employment.
Also present were Hassan bin Majeed, President of the Federation, and Jerry Cunningham, the Irish Ambassador to the Kingdom.
Participation, Focus
The meeting included over 80 representatives from Saudi and Irish companies. It focused on exploring investment opportunities and collaborative ventures, especially in the aviation and human resources sectors.
Statements by Neil Richmond
Irish Minister of State Neil Richmond remarked that Saudi-Irish relations are currently at their best, both diplomatically and economically.
Subsequently, he noted that Irish companies are particularly keen on exploring investment opportunities in the Saudi market.
Investment Encouragement
Subsequently, Richmond encouraged Saudi companies to consider investing in Ireland and to actively explore opportunities there.
Moreover, he highlighted the positive impact of Saudi Arabia’s Vision 2030, not only on the Kingdom but also on the global stage. In this context, he noted the significant cooperation opportunities, especially in the aviation infrastructure and airports sector
Remarks by Hassan Al-Huwaizi
Hassan Al-Huwaizi, President of the Saudi Chambers, mentioned that Saudi Arabia’s Vision 2030 and Ireland’s Project 2040 open promising prospects for economic cooperation.
He considered the formation of the Saudi-Irish Committee and the Saudi-Irish Business Council as key developments.
Strategy, Trade
Al-Huwaizi emphasized the need for a comprehensive strategy encompassing investment opportunities and targeted sectors in both countries.
Subsequently, he mentioned the relatively low trade volume between Saudi Arabia and Ireland.
Focusing on the Trade Figures
In 2022, the trade volume between Saudi Arabia and Ireland reached approximately 5.3 billion Riyals. This figure includes 75 million Riyals in Saudi exports and 5.2 billion Riyals in Irish imports.
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