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Saudi-UK plan to increase industrial & mining cooperation

Saudi-UK plan to increase industrial & mining cooperation

During his visit to the UK, Bandar Al-Khorayef, the Saudi Minister of Industry and Mineral Resources met with Kwasi Kwarteng, the British Minister of State for Business, Energy, and Industrial Strategy, in London on Wednesday. The goal of their meeting was to advance bilateral cooperation between the two nations in the industrial and mining sectors.

He discussed shared concerns between the two nations, investment opportunities in the two sectors, and the continuation of cooperation in relations between the two nations during the meeting, which was attended by several heads of sectors of the industry and mining system.

 He emphasized the significance of strengthening communication channels in a way that contributes to attracting quality investments and is in line with the goals of “Saudi Vision 2030.”

1.53 billion Saudi riyals were sent overall to the UK in non-oil-related trade, vs. 10.50 billion riyals in imports. Nearly 400 billion dollars are now being invested in the Saudi industrial sector, which includes more than 10,000 enterprises. 20 billion dollars in new investments were attracted over the past year, and the Kingdom’s mineral riches are believed to be worth 1.3 trillion dollars.

Additionally, the British Minister of Industry at the Ministry of Business, Energy, and Industrial Strategy Lee Rawley accompanied the Saudi Minister on a visit to the British Parliament at Westminster Palace in London, where he was briefed on the palace’s history as well as its most notable features and artifacts. 

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