The Federation of Saudi Chambers delegation, represented by the Saudi-Canadian Business Council, recently visited Canada after a six-year hiatus in trade visits between the two countries. The visit aimed to enhance economic relations between Saudi Arabia and Canada, with a focus on developing trade and investment opportunities. The delegation, led by Minister of Industry and Mineral Resources Bandar Alkhorayef, participated in a roundtable meeting in Toronto, along with Saudi Arabia’s Ambassador to Canada and other key figures in the business community.
During the visit, the Saudi-Canadian Business Council successfully engaged in discussions with major Canadian companies, signed commercial partnerships, and established a business council office in Toronto. The forum highlighted investment opportunities in various strategic sectors in both Saudi Arabia and Canada, including the mining sector and industries related to Vision 2030, Saudi Arabia’s economic diversification initiative. Additionally, a memorandum of understanding (MoU) was signed to establish a joint Saudi-Canadian company to design and manufacture complex structures for entertainment and sports shows.
The visit marked a significant milestone in the economic relations between Saudi Arabia and Canada, with the final formation of the Saudi-Canadian Business Council being approved by the Federation of Saudi Chambers in July. This important development signals a renewed commitment to strengthening economic ties between the two countries, after several years of suspended activities, missions, and trade delegations. The delegation’s visit to Canada and the successful outcomes achieved during this trip pave the way for enhanced collaboration and increased bilateral trade and investment opportunities between Saudi Arabia and Canada.
The Saudi-Canadian Business Council’s visit to Canada was seen as an opportunity to explore new avenues for cooperation and partnership between the two countries. With a focus on promoting trade and investment, the delegation engaged in discussions with key Canadian companies to identify areas of mutual interest and potential collaboration. The roundtable meeting in Toronto served as a platform for networking and exchanging ideas, with the participation of leading figures from both the Saudi and Canadian business communities.
One of the key highlights of the visit was the signing of a memorandum of understanding (MoU) to establish a joint Saudi-Canadian company specializing in designing and manufacturing complex structures for entertainment and sports shows. This partnership is expected to leverage the expertise and resources of both countries to create innovative and world-class products in these industries. The establishment of a business council office in Toronto also signifies a commitment to strengthening bilateral economic relations and facilitating business activities between Saudi Arabia and Canada.
Overall, the delegation’s visit to Canada was deemed a success, with fruitful discussions, commercial partnerships, and the establishment of new business initiatives. The visit not only reinvigorated economic relations between Saudi Arabia and Canada but also opened up new opportunities for collaboration and cooperation in various sectors. With a renewed focus on promoting trade and investment, the Saudi-Canadian Business Council’s visit set a positive tone for future engagements and laid the groundwork for continued growth and partnership between the two countries.
