25/01/2016
During a workshop held eastern chamber
Seihati: Saudi products are qualified to compete in the US market
$ 44 billion is the estimation of US-Saudi joint investments
The member of the administrative board of East chamber Naguib Seihati has called for increasing the US-Saudi joint investments, which amounted to only $ 44 billion .. confirming the presence of promising investment opportunities for US companies in the Kingdom in various sectors such as oil and food and pharmaceutical sectors
This was during a workshop entitled "Building your business in the United States of America," organized by the Saudi American Business Council in cooperation with the East chamber in the head office in Dammam Monday, January 25, 2015, Al Seihati added that the room is ready to provide the necessary small and medium businesses wishing to help in the US market entry, through clarifying whole picture of the legal environment in the United States, and the requirements of investment there.
Al Seihati has stressed the importance of developing trade ties between the Kingdom and the US to increase joint investments that are still below the level of the aspirations of the leadership and the private sector in the two countries.
He pointed that there are good opportunities in front of Saudi products to enter the american market that the Saudi Arabia's non-oil products are characterized by global quality, which quialifies it to compete with other products in the US market, and this is what supports the state plans to diversify sources of income.Praising-in this respect- the positive role played by Saudi Arabian Business Council in the discovery of the US corporate investment opportunities in both countries.
For his part, Vice President of Business Development Council, Saudi Arabia's US businessman David Callahan has estimated the Saudi exports to the United States of about 57 billion dollars , and that the Kingdom comes within the top 10 countries exporting to the US market, adding that Saudi Arabia exports to the American market is varied, including petrochemical and oil and agricultural and organic industries , calling on Saudi companies to look for partnerships with to invest in the most promising sectors in the United States, most notably the health sector and the mining sector during the period from 2014-2024.
He pointed that the Council is currently working in collaboration with the Ministry of Trade and Industry in the Kingdom to prepare for the establishment of an investment forum in Riyadh for the first time with the participation of 500 US companies during the period from 22 March 23, The Forum represents a great opportunity to look for strategic partnerships with US companies that are scheduled to participate in the Forum.
He said the US-Saudi Business Council in the seeking for the development of trade relations between the Kingdom and the United States intends this year to organize a visit to Saudi companies to the United States to learn about the investment opportunities available to the US market, where there will be 3 choosen sectors such as plastics and petrochemical and pharmaceutical or food.
He explained that the Saudi American businessman council , which was founded in 1993, moving according to a clear strategy that provides information and expertise and strengthen trade relations between the Saudi companies and the US likes, which seeks to provide a true picture of the investment environment and business in the Kingdom and focusing on investment opportunities available for the US companies wishing Login Saudi market .. stressing that the US - Saudi commercial relations are not urgent, there are several major US companies operating in the Kingdom in the oil sectors, as well as the Saudi companies to export to the US market and the import of US companies for the Saudi market.
He noted that the US market characterized by numerous characteristics and perhaps most notably the presence of a large similarity with the Saudi market regarding the existence of huge investments in the sectors of oil, gas, petrochemicals, communications, medicine and food.
