Riyadh, Asharq Al Awsat- Under the patronage of HRH Prince Salman Bin Abdulaziz, the governor of Riyadh, the Saudi-UAE Economic Forum will be held in Saudi Capital on the 13-14 May 2007.
The forum has been organized by Asharq Al Awsat newspaper in cooperation with the Federation of UAE Chambers of Commerce and Industry and the Council of Saudi Chambers of Commerce and Industry.
The forum will be headed by the UAE’s Minister of Economy, Shiekha Lubna bint Khaled al Qasimi and will be the first event to gather such a high ranking delegation of businessmen and businesswomen from the UAE in Saudi Arabia. Representatives from the Council of Saudi Chambers of Commerce and Industry, the Minister of Industry and Commerce as well as prominent Saudi business figures are expected to attend the forum.
Tariq Alhomayed, the Editor-in-Chief of Asharq Al Awsat stated, “The date of the forum was changed to include the largest number of active players in the economies of the UAE and Saudi Arabia.”
“The Media is an active partner in the development of business and economies” stressed Alhomayed. “We are here to launch this role of cooperation with the Federation of UAE Chambers of Commerce and Industry and the Council of Saudi Chambers of Commerce and Industry,” He Added.
The forum will be held in Riyadh’s Four Seasons Hotel and there will be two main sessions entitled “Strengthening Bilateral Trade” and “Future Investment Horizons.”
Economic relations between the UAE and Saudi Arabia are growing steadily. Bilateral trade statistics indicate a rise in Saudi imports to the UAE to approximately 46% of total UAE imports from other Arab countries.
In 2003, the average trade volume between the two countries stood at SR (Saudi Riyals) 7.6 billion. In 2005, it rose to approximately SR 11.6 billion, a growth rate of 15%.
The Gulf Cooperation Council’s (GCC) Customs Federation is expected to increase trade as it will facilitate the movement of trade between member states.
The forum will be marketed by Eye of Dubai. Asharq Al Awsat will publish a supplement on Saudi-UAE commercial relations that will be marketed by al Khaleejiah for Publicity Advertising & Public Relations Company, the Saudi Research & Publishing Company’s exclusive advertising agent.