24/05/2013
400 U.S.-Saudi Joint Projects in the Kingdom
Asharqia Chamber's Secretary-General Abdulrahman bin Abdullah Al Wabel stressed on the importance of the role of the US-Saudi Arabian Business Council in identifying business partnerships and investment opportunities for Saudi firms with their counterparts in the United States.
Al Wabel said during a workshop, organized by Asharqia Chamber on Wednesday, May 22, 2013 in its headquarters in Dammam, titled (Exporting to the United States of America) that there are great opportunities for Saudi products in the U.S. market, noting that the Kingdom's exports of diverse non-oil and stressing that the Kingdom is capable of producing high quality non-petroleum products that meet international quality standards
Al Wabel revealed that the United States is still the largest trading partner as well as the largest investor in the Kingdom for many years, stressing that bilateral trade between the two countries reached 61.3 billion dollars in 2011, which represents an increase of 42.5 per cent compared to last year, on the other hand, the value of the Kingdom's imports to the United States reached $ 13.8 billion, while exports of Saudi Arabia to the United States rose to reach $ 47.5 billion. Al Wabel stated that there are 400 joint venture currently working in the Kingdom with an investment of about $ 44 billion.
