Arab-British Summit Highlights Youth as Key Driver of Regional Economies

Secretary-General of the Arab League addresses the Arab-British Summit in London (Arabic Website)
Secretary-General of the Arab League addresses the Arab-British Summit in London (Arabic Website)
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Arab-British Summit Highlights Youth as Key Driver of Regional Economies

Secretary-General of the Arab League addresses the Arab-British Summit in London (Arabic Website)
Secretary-General of the Arab League addresses the Arab-British Summit in London (Arabic Website)

The Arab British Economic Summit 2019 (ABES 2019), which kickstarted in London on Wednesday, witnessed the participation of dozens of representatives of major financial institutions, investors and statesmen who came together to explore means of bolstering trade ties and encouraging investment in youth, infrastructure, and renewable energy.

Speakers focused on the importance of investing in the stock of human capital present in the Middle East and North Africa and promoting Arab-British cooperation in energy, education, health, and infrastructure.

The repercussions of Britain's exit from the European Union, named Brexit, dominated official and sideline meetings held at the event. Nevertheless, Brexit was reviewed positively by attending investors who saw the split as an opportunity to push forward economic relations between the two sides.

Elizabeth Symons, Baroness Symons of Vernham Dean, considered the energy, education and health sectors as great sectors offering broad opportunities for cooperation between the UK and Arab countries.

In a statement to Asharq Al-Awsat, lady Symons noted that one of the main sectors in which Britain is distinguished and seeks to enhance cooperation with the region is renewable energy, especially the means of generating them.

She added that the education sector is another prominent area for cooperation anchored in the exchange of knowledge and qualifying youth for modern-day jobs that are heavily reliant on information technology.

She added that the discussions between the participants on the sidelines of the economic summit focused on the funding that may be obtained by investors from the Middle East and North Africa in Britain.

Chairman of the Council of Saudi Chambers (CSC) Sami bin Abdullah Al-Obaidi, for his part, reiterated the need for exerting more efforts on all levels, including both business and government. This is set to maximize trade exchange, strengthen economic partnership, and build joint projects in various producing and industrial sectors.

According to Obaidi, services sectors are also slated to reap the benefits of outcomes achieved in future-held summits, forums, and conferences.

The Saudi official underlined that economic integration between Saudi Arabia and Britain is not new, but dates back years.

“British companies will be one of our best partners in the mega projects of Kingdom Vision 2030,” Obaidi was cited as on the sidelines of ABES, adding that will be achieved through the exchange of experience and advanced entrepreneurship.



Saudi Mineral Resources Minister, US Energy Secretary Discuss Strengthening Strategic Cooperation 

The Saudi and American delegations meet at the Ministry of Industry and Mineral Resources on Sunday. (SPA)
The Saudi and American delegations meet at the Ministry of Industry and Mineral Resources on Sunday. (SPA)
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Saudi Mineral Resources Minister, US Energy Secretary Discuss Strengthening Strategic Cooperation 

The Saudi and American delegations meet at the Ministry of Industry and Mineral Resources on Sunday. (SPA)
The Saudi and American delegations meet at the Ministry of Industry and Mineral Resources on Sunday. (SPA)

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef held official talks on Sunday with US Secretary of Energy Chris Wright as part of his current visit to the Kingdom.

The talks at the ministry headquarters in Riyadh focused on strengthening the strategic relationship between Saudi Arabia and the US in the mining and minerals sector.

They explored ways to expand cooperation in the mining sector and emphasized the importance of minerals in the energy transition, advanced technology industries, and modern economies linked to clean energy, as well as their significance in the electric vehicle industry and its components.

The two sides discussed ways to boost economic cooperation and high-value investment opportunities in both countries and the enablers available to leverage these opportunities in support of deepening their longstanding partnership.

Alkhorayef invited the US energy secretary to attend the Future Minerals Forum, which will be held in Riyadh next year.

Wright later visited the King Fahd University of Petroleum and Minerals (KFUPM) in Dhahran. He was welcomed by Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz, KFUPM President Muhammad Al-Saggaf, and senior university officials.

Wright was briefed on the university's academic and research specializations, as well as its efforts to foster innovation and develop human capital in the fields of energy, engineering, and science. He met with faculty members and students and learned about the university's initiatives to advance educational and research programs in line with the highest international standards.

He was introduced to KFUPM’s international collaboration and academic exchange programs, particularly those with leading US institutions, which are designed to foster knowledge sharing, encourage joint learning, and provide students with global exposure that enhances both their academic growth and career prospects.

This visit underscores KFUPM’s role as a leading academic and research institution in the energy sector and strengthens research and academic cooperation between Saudi Arabia and the US.