The Saudi General Authority for Foreign Trade said it is working on 13 initiatives focused on supporting the Kingdom’s sectors within the framework of boosting foreign trade and resolving the challenges facing international investments. This falls within the framework of the national vision for transformation, Kingdom Vision 2030.
The announcement came during a workshop organized by the Saudi South African Business Council at the Council of Saudi Chambers in cooperation with the Saudi General Authority for Foreign Trade.
The workshop showcased a series of investment agreements between the Kingdom and South Africa and the latter’s economic benefits.
A number of experts from the Saudi General Authority for Foreign Trade attended the workshop, in addition to businessmen and Hisham al-Amoudi, the Saudi South African Business Council General Manager.
Al-Amoudi opened the workshop reaffirming the extensive efforts spent by the Saudi General Authority for Foreign Trade in resolving challenges facing international investments and working to boost bilateral partnerships according to Saudi Vision 2030.
For her part, Saudi General Authority for Foreign Trade expert in private sector partnerships Nouf al-Hassoun affirmed that the Authority is working on 13 initiatives to support foreign Saudi business council.
Hassoun said that the initiatives are in their last phases of preparation before going into implementation.
She stressed that one of the Authority’s goals is to maximize the Kingdom’s international trade and investment gains, enable exports of non-oil goods, services and national investments to enter international markets, provide protection for Saudi products and services from harmful practices in international trade and attract foreign investment.
Saudi General Authority for Foreign Trade expert in international relations Mohammed al-Sabhan said that the Authority has resumed negotiations to sign a free trade agreement with South Africa, the Southern African Development Community and the Gulf Cooperation Council.