Prime Highlights
- Saudi Arabia and the United States held high-level discussions to strengthen economic cooperation and expand trade and investment ties.
- Officials highlighted the growing role of the private sector in driving long-term business partnerships between the two countries.
Key Facts
- Bilateral trade between Saudi Arabia and the US reached approximately $33 billion in 2024.
- The meeting was attended by senior officials and representatives from 83 private sector companies.
Background:
Saudi Arabia and the United States held a high-level economic roundtable in Riyadh on January 20 aimed at strengthening bilateral trade and investment relations.
The Saudi-US Roundtable took place alongside the ninth session of the Saudi-US Trade and Investment Association and was organised by the General Authority for Foreign Trade (GAFT). Senior government officials, business leaders, and private sector representatives from both countries attended the meeting.
The meeting was attended by Abdulaziz Al-Sakran from GAFT, Waleed Alorainan of the Federation of Saudi Chambers, and Charles Hallab of the Saudi-US Business Council. Government officials and representatives from 83 private sector companies also took part.
Discussions focused on strengthening economic cooperation and finding new opportunities for trade and investment. Officials highlighted the importance of the private sector in supporting long-term business growth.
Trade between Saudi Arabia and the United States reached about $33 billion in 2024, showing steady growth in economic ties. Al-Sakran said trade between the two countries has grown strongly over the past ten years, with total trade exceeding $500 billion.
He added that the roundtable supports GAFT’s work to help Saudi companies enter global markets and overcome challenges, especially for non-oil exports.
GAFT continues to strengthen trade ties by managing business councils and coordination platforms, while supporting the expansion of Saudi exports abroad.
The meeting confirmed both countries’ commitment to further strengthening economic ties and creating new growth opportunities.
