The Federation of Saudi Chambers recently organized the third Saudi-Emirati Economic Forum in Riyadh, with participation from Minister of Economy Faisal Al-Ibrahim and Minister of Industry Bandar Al-Khorayef. Al-Ibrahim highlighted the growing bilateral trade and direct Emirati investments in Saudi Arabia, amounting to SR111 billion and SR113 billion, respectively. Minister Al-Khorayef noted that Saudi exports to the UAE have been steadily increasing, reaching SR31 billion in 2024. Additionally, he expressed a desire for greater collaboration in the industrial and mining sectors to drive economic growth.
The forum saw the participation of over 100 major Emirati companies led by UAE Minister of Economy Abdullah Al Marri, along with officials and investors from both countries. The objective of the forum was to strengthen the economic partnership and integration between Saudi Arabia and the UAE, building on the joint working mechanism established under the “Resolve Strategy.” This initiative aims to promote integration and cooperation through strategic projects to benefit both nations.
The Saudi-Emirati Economic Forum serves as a platform for enhancing collaboration and exploring opportunities for joint initiatives that support entrepreneurship, access to financing and training, and the exchange of expertise between the two countries. Minister Al-Khorayef emphasized Saudi Arabia’s commitment to actively participating in priority sectors such as industry and mining to drive economic development and create mutual benefits for both nations.
The forum serves as a testament to the long-standing economic ties between Saudi Arabia and the UAE, with the first two editions held in Abu Dhabi in 2018 and Riyadh in 2019. The continued success of the forum reflects the shared commitment of both nations to further strengthen their economic partnership and explore new avenues for cooperation and growth in various sectors.
The Saudi-Emirati Economic Forum plays a crucial role in promoting bilateral trade and investment, with a focus on enhancing economic integration and cooperation through joint strategic initiatives. The participation of a large Emirati trade delegation underscores the importance of the forum in fostering stronger ties and promoting mutual economic benefits for both countries.
In conclusion, the third edition of the Saudi-Emirati Economic Forum in Riyadh served as a key platform for driving economic cooperation and partnership between Saudi Arabia and the UAE. With a focus on enhancing bilateral trade, investment, and collaboration in priority sectors, the forum aims to create new opportunities for growth and development while strengthening the economic ties between the two nations. Through joint initiatives and strategic projects, both countries are poised to further deepen their economic integration and cooperation for mutual benefit.
