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Saudi Arabia, Britain Sign 18 Economic Deals Worth over $2 Billion

Saudi Arabia, Britain Sign 18 Economic Deals Worth over $2 Billion

Thursday, 8 March, 2018 - 19:15
The Saudi-UK CEO Forum in London. (SPA)

Saudi Arabia and Britain signed on Thursday 18 economic agreements in various fields worth over $2 billion. The deals were announced at the end of the Saudi-UK CEO Forum that was held in London in conjunction with a visit by Saudi Crown Prince Mohammed bin Salman to the Kingdom.

The agreements included six signed between Saudi Aramaco and Royal Dutch Shell, Chatham House, Imperial College, and The Wielding Institute.

In the real estate sector, an investment fund worth 100 million pounds was set up to invest in British real estate. In the health field, the Saudi Ministry of health signed a deal to invest in healthcare centers in the UK. A cooperation agreement was also reached between the ministry and Babylon Partners on artificial intelligence in the healthcare sector.

An agreement was also reached for Saudi Arabia to host the first European Tour golf event.

Organized by the Saudi Center for Strategic Partnerships, the Saudi-UK CEO Forum aimed to set up the future of economic and investment relations and open news aspects of cooperation and partnership between Saudi Arabia and Britain in accordance with Vision 2030.

During a panel discussed on "An Era of Transformation: From Vision to Implementation", Minister of Energy, Industry and Mineral Resources Khaled bin Abdulaziz Al Falih highlighted the vision and the importance of its implementation.

He added that the Saudi-UK Strategic Partnership brings together eight joint programs. The United Kingdom is the third state dealing with Saudi Arabia, in addition to the United States and China.

He affirmed that Saudi Arabia and Britain are strategic allies, highlighting programs of mining and oil cooperation.

The second panel discussion, "Women in Leadership: Empowerment Rising Leaders", was presented by Princess Rima bint Bandar bin Sultan, Undersecretary of the General Sports Authority for Planning and Development.

She underscored the empowerment of the Saudi woman at the official levels, including the Shura Council.

She highlighted that the Saudi leadership seeks to establish the appropriate environment and atmosphere for the success of the Saudi woman in the sports field.

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