Swedish Minister: FII Opportunity to Bolster Cooperation, Development with Africa

Sweden’s Minister for International Development Cooperation and Foreign Trade Benjamin Dousa. (Turky Al-Agili)
Sweden’s Minister for International Development Cooperation and Foreign Trade Benjamin Dousa. (Turky Al-Agili)
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Swedish Minister: FII Opportunity to Bolster Cooperation, Development with Africa

Sweden’s Minister for International Development Cooperation and Foreign Trade Benjamin Dousa. (Turky Al-Agili)
Sweden’s Minister for International Development Cooperation and Foreign Trade Benjamin Dousa. (Turky Al-Agili)

Sweden’s Minister for International Development Cooperation and Foreign Trade Benjamin Dousa stressed that the Future Investment Initiative, currently underway in Riyadh, was an ideal opportunity to bolster experiences and create a transformation in the cooperation and trade movement.

In an interview with Asharq Al-Awsat, he underlined the need to create economic integration with African countries and benefit from their natural resources to boost cooperation and sustainable development and combat poverty.

He also emphasized the importance of trade, private investment and loans to achieve sustainable development goals. No country can be removed from poverty by solely relying on development assistance, he remarked.

* What is your assessment of Saudi-Swedish relations? What are the most prominent areas of cooperation? What is the volume of trade exchange and what is the growth rate?

Saudi-Swedish relations are excellent. Saudi Arabia is an important partner for Sweden and our largest trading partner in the MENA-region. Trade and investments, with a focus on innovation and green solutions, are at the heart of our cooperation and constantly growing.

Over the last five years, Swedish exports to Saudi Arabia increased with 72% to 1.3 billion USD. To me, these figures clearly prove that Swedish companies have a lot to offer in the fast and impressive reformation of the Saudi society in line with Vision 2030. Swedish companies, such as Ericsson, Siemens Energy, Scania, Astra Zeneca and the Volvo Group, are ready to contribute with their expertise in telecom, energy, the automobile industry, and life sciences.

Swedish companies, such as Hitachi Energy and Molnlycke, see great potential in the Saudi market and have made significant investments into local manufacturing, creating new jobs, transferring knowledge and contributing to in-country investment.

* What is the nature of your participation in the Future Investment Initiative (FII) in Riyadh? What are the most important topics that interest you at this event?

The FII-conference serves as a perfect opportunity for me, as a newly appointed Swedish minister for foreign trade, to get a crash course on the Saudi market and Swedish business interests in Saudi Arabia. I especially look forward to learning more about Vision 2030 and the giga-projects, which are truly impressive. I will be speaking at a panel on economic integration in Africa. My visit to Riyadh is also an opportunity for me to meet Saudi cabinet ministers and other high ranking Saudi officials. I know that my predecessor was very pleased with his visit to FII last year.

* Is there a new project under study and research for cooperation between the two countries and what is its nature?

The cooperation between King Abdulaziz City for Science and Technology (KACST) and Ericsson is exemplary in this regard. Beyond working together on research and science, they have just announced a joint program with The Garage, a Saudi hub for innovation and entrepreneurship. The project aims to support Saudi game developers. Swedish innovators have a lot of experience to share in this field.

I would also like to highlight the third Swedish-Saudi Joint Commission that will take place in Riyadh next week. The Joint Commission is an excellent showcase of the multifaceted cooperation between Sweden and Saudi Arabia. The commission serves as a government-led platform for identification of concrete actions in support of trade and cooperation in areas ranging from export financing instruments, trade policy, healthcare, energy, tourism, to innovation and promotion of small and medium enterprises.

* What is the Swedish plan to maximize development cooperation and increase foreign trade?

Sweden is a strong proponent of free trade. I am convinced that fewer trade barriers and simplified trade procedures boost competition and productivity and reduce global value chain vulnerabilities. Unfortunately, in recent years, we have seen many countries introducing new trade barriers and export restrictions. I believe that free, sustainable, and rules-based international trade and globally accepted standards is the only way forward. Sweden’s own journey from a poor country based on farming to one of the world’s most innovative nations was only possible through international trade.

My government is changing the course of Swedish development cooperation. Sweden will continue to be major donor of both development assistance and humanitarian aid, but we are putting a much stronger emphasis on the essential link between trade and development.

Trade, private investment, loans, and domestic resource mobilization is necessary for countries to achieve the Sustainable Development Goals. No country can be lifted out of poverty with the help of development assistance alone. Swedish development cooperation should contribute to creating conditions for developing countries and for people to go from poverty to prosperity through trade and economic development.

* What is the impact of geopolitical events in the region on development cooperation, foreign trade and supply chains?

I am deeply worried by the ongoing escalation in the region. Sweden fully supports diplomatic efforts for regional de-escalation and ceasefires in Lebanon and Gaza. We greatly appreciate Saudi Arabia’s initiatives for peace and de-escalation, as exemplified by the kingdom’s efforts to, again, bring new momentum for a two-state solution.

The Houthi attacks on free trade in the Red Sea have now been impeding trade flows for over a year. Over 12 percent of the world maritime trade used to pass through the Red Sea. This is a global concern. Many Swedish businesses have been affected by delayed deliveries linked to the situation in the Red Sea. Sweden is contributing to the EU defensive military force Operation Aspides in the Red Sea, aiming at protecting vessels. The attacks on free trade must come to an end for the benefit of all.



Al-Khateeb: Saudi Arabia Plays Pivotal Role in Development of Responsible, Sustainable Global Tourism

Saudi Minister of Tourism Ahmed Al-Khateeb (Asharq Al-Awsat)
Saudi Minister of Tourism Ahmed Al-Khateeb (Asharq Al-Awsat)
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Al-Khateeb: Saudi Arabia Plays Pivotal Role in Development of Responsible, Sustainable Global Tourism

Saudi Minister of Tourism Ahmed Al-Khateeb (Asharq Al-Awsat)
Saudi Minister of Tourism Ahmed Al-Khateeb (Asharq Al-Awsat)

Saudi Minister of Tourism Ahmed Al-Khateeb emphasized that Saudi Arabia plays a central role in leading the development of responsible and sustainable global tourism.

“During our presidency of the G20 in 2020, we emphasized the establishment of the G20 Tourism Working Group, which has since created a comprehensive framework to drive flourishing, inclusive tourism that prioritizes the environment and encourages cooperation among nations and with the private sector,” he said.

In an interview with Asharq Al-Awsat, Al-Khateeb discussed the recent G20 tourism meeting in Brazil, noting a report from the World Travel and Tourism Council (WTTC), sponsored by Saudi Arabia, which highlighted the ongoing impact of COVID-19, particularly on women and young workers.

“The study, covering 185 countries, showcased creative initiatives, including those in Saudi Arabia, that address these issues and provide inspiration for G20 members and beyond,” the minister remarked.

Saudi Arabia has achieved top global rankings, marking the highest growth in international tourist numbers and tourism revenue among G20 countries in 2024 compared to 2019, outperforming other countries based on available data.

The minister affirmed that tourism is a key driver in the transformation underway in Saudi Arabia as part of Vision 2030, which has opened the Kingdom to the world.

“With our private sector partners, we will have invested $800 billion in this sector by the end of the decade, creating some of the world’s most advanced, innovative cities, resorts, and cultural sites. These developments embrace sustainability, aiding Saudi Arabia in its goal of achieving net-zero emissions by 2060,” he added.

He highlighted significant investments in infrastructure, including new and renovated airports, along with hosting major global sports and entertainment events.

“Our focus on tourism is driving notable economic, social, and cultural change. By the end of 2023, the tourism sector employed 925,500 people, a 62% increase compared to the end of 2019. Our investments in tourism destinations across the Kingdom are creating opportunities for both large and small communities,” he said.

Al-Khateeb stressed that tourism is a vital sector for the evolving Saudi economy, with preliminary estimates of its direct contribution to the Kingdom’s GDP at 4.4% in 2023, up from 3.6% in 2019. “Our goal is to reach 10% by 2030,” he said. “In 2023, we met our initial target of welcoming 100 million tourists to Saudi Arabia, seven years ahead of the 2030 goal, and we have now set a new target of 150 million tourists by the end of the decade.”

He noted that Saudi Arabia ranked 12th globally in 2023 in terms of international tourism revenue, rising 15 places since 2019, with tourists spending SAR141 billion ($38 billion).

Tourists benefit from investments in infrastructure and connectivity that make travel within Saudi Arabia easier and faster. The electronic visa program now covers 66 countries, facilitating smoother travel to the Kingdom.

“Saudi Arabia is at the forefront of integrating artificial intelligence in the tourism sector,” he continued. “In addition to designing customized experiences for tourists, Saudi Arabia recently hosted the Global AI Summit, a gathering of AI experts, policymakers, and influencers from around the world.”

The Minister reiterated Saudi Arabia’s commitment to ensuring a rewarding experience for pilgrims, with over SAR5.9 billion ($1.3 billion) invested in improving infrastructure at holy sites.

“We have introduced new tourist visa regulations and a smart Hajj identity, providing pilgrims with accessible information,” he added.

On Saudi Arabia’s role in transforming tourism into a driving force for inclusive development, Al-Khateeb said: “Tourism in Saudi Arabia is bringing about significant societal changes, creating opportunities, especially in empowering women and youth.”

By the end of 2023, women’s participation in the tourism sector reached 46%, with more than 925,000 employees, he underlined. The Ministry of Tourism has also launched initiatives investing over SAR375 million ($100 million) in human capital, in collaboration with top international colleges and schools to enhance the skills of Saudi trainees in the tourism sector.

He emphasized Saudi Arabia’s vision of tourism as a primary force for social change globally, promoting “greater tolerance, acceptance, and collaboration among the world’s peoples.”

Al-Khateeb anticipates significant growth in the travel and tourism sector over the next decade, with an estimated value of $16 trillion, accounting for 11.4% of the global economy, according to the WTTC.

He concluded by stating that Saudi Arabia is a global leader in achieving these goals, fostering partnerships between the public sector and governments worldwide, and encouraging knowledge sharing and innovation.

“We are proud of our pioneering work with various international organizations, including the G20, the United Nations World Tourism Organization, and the World Economic Forum, and we are committed to building a bright and lasting legacy for global tourism,” the minister stated.