Riyadh- The U.S. Chamber of Commerce has revealed a plan to reinforce an economic foundation with Saudi Arabia in the upcoming period via focusing on motives of knowledge economy and development of vital sectors in this field.

Steve Lutes, executive director of Middle East Affairs at the U.S. Chamber of Commerce, told Asharq al-Awsat that, “the U.S. and Saudi Arabia are cooperating since a long period for the purpose of building strong economic relations — which why there are massive agreements that embody an ideal sample of cooperation in the energy field to serve both countries’ interests.”

According to Lutes, the U.S. Chamber of Commerce emphasizes on working with its friends in Saudi Arabia for the sake of developing an expanding foundation of vital sectors in knowledge economy and creating a cohesive synthesis with the goals and programs of Saudi Vision 2030 and the National Transformation Program.

“In the last visit to Riyadh, the chamber focused on healthcare related economic policies, discovering available opportunities and raising competition in this domain”, said Lutes. He added that the private sector has an essential role to play.

He also urged the chamber to exert more efforts to reinforce joint work in the pursuit of expansion of commercial and investment activities between Riyadh and Washington.

“We are working with our partners in the Saudi government on topics that directly affect decisions related to the business and investment environment in Saudi Arabia—we are also working intensively on assisting U.S. companies to uncover available opportunities in various Saudi sectors,” he added.

Lutes stressed the importance of pushing towards increasing the trade exchange size and investments in order to tighten relations and to transfer the technology that will effectively contribute in building a wide base for the knowledge economy.