Sunak: British, Saudi Trade Exchange Exceeds $21 Billion

British Prime Minister Rishi Sunak has revealed that trade exchange between Saudi Arabia and UK surpassed 17 billion pounds ($21 billion), reported Saudi Gazette.

Sunak stated that the British government will continue to extensively cooperate with Saudi Arabia to create tremendous opportunities aiming at fulfilling the Saudi Vision 2030.

GREAT Futures Initiative Conference

“Today we are launching the next phase of the deep and growing partnership between Saudi Arabia and the United Kingdom. Over the next two days, we will hear from Saudi leaders and companies about how to make Vision 2030 a reality,” Sunak said through a video conference while addressing the opening session of the GREAT Futures Initiative Conference.

The two-day conference that commenced at the King Abdullah Financial District in Riyadh on Tuesday, is a collaborative effort between both Kingdoms.

Furthermore, the event is considered as one of the promising initiatives carried out by the Saudi-British Strategic Partnership Council, chaired by Saudi Crown Prince and Prime Minister Mohammed bin Salman and Rishi Sunak.

During his speech, Sunak praised Saudi Arabia for welcoming approximately 25,000 Britons who currently live in Saudi Arabia. Since the issuance of the new electronic visa exemption regime in June 2022, Britain has welcomed more than 400,000 Saudis.

Sunak indicated that thousands of Saudis have graduated from British universities in finance, fashion, luxury product sales, and others, which stands as a testament of the growing cooperation between both of them.

The conference is seeing the convergence of British Deputy Prime Minister Oliver Dowden and numerous Saudi and British ministers alongside with over 800 participants from the public and private sectors of both countries.

Dowden commended the accelerating pace of Saudi Arabia’s plan to diversify its economy and enhance social and cultural aspects, mentioning their pride to be part of implementing such a prosperous vision.

“We do not just want to support the Saudi Vision 2030, but we want to be part of it,” Dowden added.

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