A Joint Working Group to be set up between the Trade and Investment System and the European Union
H.E. the Minister of Commerce and Investment, Dr. Majid bin Abdullah Al Qasabi, held a meeting with the ambassadors of 21 EU countries.
The meeting, chaired by H.E. the Minister of Commerce & Investment and H.E. the President of the EU Commission, Mr. Michel Kirvon Diorso, witnessed the presence of the ambassadors of EU countries, officials of the Trade and Investment System, representatives of a number of government bodies and the private sector, represented by the Council of Saudi Chambers.
During the meeting, the attendants discussed aspects of cooperation and trade exchange between the Kingdom and EU countries, besides discussing ways to strengthen and promote such cooperation, as well as the investment opportunities in various fields as part of the initiatives for the realization of the Kingdom’s Vision 2030.
The attendants also reviewed the Kingdom’s achievement and higher rank in the World Index for Improving the Business Environment for 2018, issued by the World Bank Group.
The joint meetings resulted in setting up a working group from the Trade and Investment System and the EU countries, to improve the balance of trade between the Kingdom and the European Union, also to encourage the European companies to invest in various added value and feasible fields, besides addressing the challenges facing the European companies in the field of trade and investment.
The two sides agreed to hold periodic meetings between the Group of EU countries and the Trade and Investment System, also to facilitate and ease the procedures of commercial visits between the two parties, besides promoting and enhancing the partnership between the two sides to encourage small and medium enterprises, and exchange expertise in the field of Standards, Metrology and Quality.
This meeting comes within the efforts of the Trade and Investment System to enhance trade cooperation between the Kingdom and the friendly countries and to raise the level of investment cooperation in various fields.