A conference entitled “Saudi Arabia: An evolving government and Economy,” yesterday held two sessions, during which participants discussed various economic developments in the Kingdom.
The Minister of Economy and Planning, Khaled bin Mohammed Al-Qusaibi, highlighted the Kingdom’s distinguished relations with Britain, noting that the volume of trade exchange between the two countries reached SR11.4 billion in the year 2001, and that there are currently 158 joint ventures between them.
In a lecture on “The Climate of Investment,” the Minister of Commerce and Industry, Dr Hashem bin Abdullah Yamani, said that the Saudi economy is considered the largest in the Middle East, and is based on a highly advanced infrastructure. The Kingdom is placed 14th among major producing countries, and 26th among major importing countries around the world. He noted that the Kingdom has witnessed record growth in exports over the last four years.
The Governor of the Saudi Arabian Monetary Agency, Hamad Al-Sayyari, said that the Two Holy Mosques give the Kingdom of Saudi Arabia a distinguished position in the Muslim world. He stressed that the modern infrastructure and reforms in the Kingdom would pave the way to expanding the private sector to boost the national economy.
Prince Turki Al-Faisal, the Kingdom’s Ambassador to Britain, lauded the role of the Council for the Advancement of Arab-British Understanding (CAABU) and the Riyadh Chamber of Commerce and Industry for making this conference a success, and looked forward to similar conferences in the future.
Addressing a press conference, the Minister of Commerce and Industry, Dr Hashem bin Abdullah Yamani, announced the decision to lift the ban on importing dairy products and peanut butter from the United Kingdom to Saudi Arabia.
Source: SPA
