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Saudi Minister of Commerce Holds Meetings to Strengthen Economic Partnership with Malaysia

Saudi Minister of Commerce Dr. Majid Al-Qasabi held talks in Kuala Lumpur on Tuesday with Malaysian ministers with the aim of strengthening the economic partnership. (SPA)
Saudi Minister of Commerce Dr. Majid Al-Qasabi held talks in Kuala Lumpur on Tuesday with Malaysian ministers with the aim of strengthening the economic partnership. (SPA)
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Saudi Minister of Commerce Holds Meetings to Strengthen Economic Partnership with Malaysia

Saudi Minister of Commerce Dr. Majid Al-Qasabi held talks in Kuala Lumpur on Tuesday with Malaysian ministers with the aim of strengthening the economic partnership. (SPA)
Saudi Minister of Commerce Dr. Majid Al-Qasabi held talks in Kuala Lumpur on Tuesday with Malaysian ministers with the aim of strengthening the economic partnership. (SPA)

Saudi Minister of Commerce Dr. Majid Al-Qasabi held talks in Kuala Lumpur on Tuesday with Malaysian ministers with the aim of strengthening the economic partnership.

The officials included Minister of Entrepreneurship Development, Minister of Entrepreneur Development and Cooperatives Ion Benedick, Minister of Agriculture and Food Security Mohamad Sabu, and Minister of Works Alexander Nanta Linggi.

Saudi Deputy Minister of Commerce and CEO of the National Competitiveness Center Dr. Iman bint Habas Al-Mutairi and Saudi Ambassador to Malaysia Musaed bin Ibrahim Al-Saleem were also present at the meeting.

Discussions focused on Malaysia's experience in supporting small and medium enterprises, as well as cooperation in training, knowledge transfer, innovation, and sustainability.

The meeting was part of a working visit by a Saudi delegation that included 30 officials from the public and private sectors. The visit aimed to boost bilateral trade in products and services and increase the economic partnership between Saudi Arabia and Malaysia. The delegation also participated in the launch event of the Saudi-Malaysian Business Council.

On the first day of the visit, Dr. Al-Qasabi discussed the facilities provided to businesses in both countries with Malaysian officials. He highlighted the Kingdom's efforts to become a global center for trade and logistics services.

Discussions also covered cooperation in building capabilities in innovation, emerging technologies, research programs, and e-commerce.

Additionally, meetings with the Malaysian business sector focused on reforms and legislation related to the business environment, facilities, and advantages that encourage economic activities in the Kingdom and promising opportunities for bilateral partnerships between the two countries' business sectors.

The delegation included senior officials from Saudi government agencies, including the ministries of trade, investment, education, industry and mineral resources, environment, water and agriculture, rural municipal affairs and housing, the Saudi Standards, Metrology and Quality Organization, and the General Authority for Small and Medium Enterprises "Monsha'at".

It also included officials from the Saudi Data and Intelligence Authority, Saudi Export Development Authority, National Competitiveness Center, Saudi Center for Economic Business, and Federation of Saudi Chambers, which was represented by several businessmen of national companies from the business sector.

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Gulf States Expand Tourism Footprint as Emerging Markets Gain Momentum at Arabian Travel Market in Dubai

Saudi Arabia’s participation in the Arabian Travel Market (Asharq Al-Awsat) 
Saudi Arabia’s participation in the Arabian Travel Market (Asharq Al-Awsat) 
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Gulf States Expand Tourism Footprint as Emerging Markets Gain Momentum at Arabian Travel Market in Dubai

Saudi Arabia’s participation in the Arabian Travel Market (Asharq Al-Awsat) 
Saudi Arabia’s participation in the Arabian Travel Market (Asharq Al-Awsat) 

Emerging tourism markets are carving out space on the global travel map, drawing attention for their dynamic participation at the Arabian Travel Market (ATM) in Dubai, while Gulf nations—particularly Saudi Arabia and the United Arab Emirates—are accelerating their expansion in the tourism sector.

As global travel gathers momentum, Gulf-based airlines are eyeing new investment opportunities despite lingering global economic uncertainty, driven by shifting trade patterns and evolving consumer behavior in the international travel landscape.

The 32nd edition of ATM opened in Dubai with more than 2,800 exhibitors and nearly 55,000 industry professionals from 166 countries. Held under the theme “Empowering Innovation: Transforming Travel Through Entrepreneurship,” the event emphasized building a more sustainable and globally integrated travel industry.

The exhibition reflects the profound changes shaping global tourism, with cross-border and sustainable connectivity now central to the industry’s development. It also highlights the growing influence of emerging markets and the increasing role of Gulf investments in tourism and aviation.

During its participation in ATM, the Saudi Tourism Authority showcased the Kingdom’s accelerating tourism growth, revealing it had attracted approximately 116 million visitors in 2024—a 6.4% increase from the previous year. Fahd Hamidaddin, the authority’s CEO, said Saudi Arabia aims to strengthen its position as a unique summer destination through a robust calendar of events and strategic private-sector partnerships. The focus is on key source markets across the Middle East, Asia, and Africa.

UAE Tourism Supports Economic Diversification

UAE Minister of Economy and Chairman of the Emirates Tourism Council, Abdulla bin Touq Al Marri, emphasized the country’s growing stature as a global tourism hub. He pointed to the launch of major national initiatives that align with best international practices, support economic diversification, and attract investment in hospitality, aviation, and travel.

According to bin Touq, the UAE’s tourism sector continued to deliver strong performance in 2024. Hotel revenues rose to AED 45 billion (USD 12.2 billion), up 3% from 2023, while occupancy rates reached 78%, among the highest globally. The country added 16 new hotels last year, increasing the total to 1,251, with room capacity growing 3%. Hotel guests rose 9.5% year-on-year to 30.8 million, achieving 77% of the UAE’s 2031 national tourism target seven years ahead of schedule.

Gulf Airlines Gear Up for Growth

Etihad Airways CEO Antonoaldo Neves said the airline has yet to feel any major impact from global trade tensions, with seat occupancy remaining strong despite global uncertainty. Etihad plans to add 20 to 22 aircraft in 2025, with the goal of expanding its fleet to more than 170 aircraft by 2030. Neves also noted that the euro’s recent appreciation could boost European travel to the Gulf.

Etihad, which currently operates a fleet of around 100 aircraft, has significant financial flexibility, with 60% of its fleet debt-free. “If a crisis arises, we can ground planes and save up to 75% of operating costs,” he noted.

The airline plans to receive 10 Airbus A321XLR jets starting in August, in addition to 6 Airbus A350s and 4 Boeing 787s. Neves said while delays in aircraft delivery remain a challenge, they have not altered Etihad’s growth strategy. He also confirmed ongoing discussions with manufacturers and signaled interest in Boeing aircraft originally designated for China but now potentially available due to trade restrictions.

Riyadh Air Nears Major Aircraft Deal

Tony Douglas, CEO of Saudi Arabia’s Riyadh Air, said the new airline is open to acquiring Boeing jets initially built for the Chinese market if trade disputes disrupt those deliveries.

Douglas said global economic headwinds have not affected demand and announced plans to finalize a major widebody aircraft deal soon. The airline aims to expand its workforce to around 1,000 employees in the coming year, as it prepares to begin operations in the fourth quarter of 2025.

Commenting on broader regional developments, Douglas said the resumption of flights from the UAE to Syria and the use of Syrian airspace “may be an early sign that conditions are improving.”