The GREAT FUTURES Initiative Conference took place in Riyadh with the aim of strengthening economic ties between Saudi Arabia and the UK. The conference welcomed around 1,500 participants from both nations, including British Deputy Prime Minister Oliver Dowden and several Saudi and British ministers. This event is part of the Saudi-UK Strategic Partnership Council, which was established by Crown Prince Mohammed bin Salman and UK Prime Minister Rishi Sunak to expand the economic alliance.
During the conference, Minister of Commerce Dr. Majid Al-Qasabi highlighted the success of the Saudi-UK partnership, which has led to the launch of 60 initiatives in 13 economic sectors. Bilateral trade between the two nations has increased by over 30% from 2018 to 2023, surpassing 79 billion pounds sterling. Al-Qasabi also mentioned that 1,139 British investors are benefiting from economic reforms in Saudi Arabia, further strengthening the partnership between the two countries.
British Deputy Prime Minister Oliver Dowden emphasized the partnership’s goal of fostering prosperity and adapting to challenges and advancements. Leading a UK delegation of over 450 participants, Dowden expressed Britain’s readiness to contribute to Saudi Arabia’s Vision 2030 goals and strengthen the economic alliance. 70% of the UK delegation were visiting the Kingdom for the first time, demonstrating the importance of this partnership for both nations.
The two-day conference at the King Abdullah Financial District in Riyadh featured 20 ministerial meetings, 130 speakers across 50 dialogue sessions, and 10 workshops. The GREAT FUTURES Initiative will continue with events over the next 12 months, with participation from innovative UK companies to enhance partnerships in promising sectors. This initiative aims to promote trade and mutual investment across various sectors, further solidifying the economic alliance between Saudi Arabia and the UK.
Overall, the GREAT FUTURES Initiative Conference in Riyadh was a successful event that brought together participants from both Saudi Arabia and the UK to strengthen economic ties and promote trade and mutual investment. The conference highlighted the success of the Saudi-UK partnership, with bilateral trade increasing by over 30% and the launch of 60 initiatives in 13 economic sectors. The event showcased the commitment of both nations to fostering prosperity and adapting to challenges and advancements, as well as the readiness of the UK to contribute to Saudi Arabia’s Vision 2030 goals. The ongoing events and participation of innovative UK companies in the initiative will further enhance partnerships in promising sectors, solidifying the economic alliance between Saudi Arabia and the UK.
