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US 'World Trade' Hubs Eye Developing Activity in Saudi Arabia

US 'World Trade' Hubs Eye Developing Activity in Saudi Arabia

Friday, 14 May, 2021 - 10:45
World Trade Centers Association plans expanding activity in Saudi Arabia to contribute to current development opportunities in the Kingdom (Asharq Al-Awsat)

Megaprojects launched under Saudi Arabia’s national plan for transformation, dubbed “Vision 2030”, are increasingly driving world trade associations to expand the scope of activities in the Kingdom.

Aaron Starks, the Vice President of Global Business Services at the World Trade Center Utah, told Asharq Al-Awsat that Saudi Arabia’s future is “bright” and that the Center was looking for ways to engage in trade and innovation there.

Recognizing the Kingdom as the biggest Middle East market, Starks noted that some reports predict the Saudi economy will grow by 4% in 2021.

This, according to Starks, will lead to pumping more investment into agricultural technology and general infrastructure.

“Saudi Arabia is also preparing to attract a vibrant workforce from surrounding areas as the economy diversifies,” said Starks, adding that the Kingdom is “working to develop a reputation for quality education, innovation and encouraging entrepreneurship in the region.”

Abdullah Bin Zaid al-Melehi, who heads the Saudi-based company “Al-Tamayoz,” revealed that the World Trade Centers Association (WTCA) and his firm were preparing a joint work plan for international companies interested in Saudi economic projects.

World trade centers will share their helpful experience and motivate Saudi companies to implement various promising projects with the help of artificial intelligence, al-Melehi told Asharq Al-Awsat.

He said that cooperation with global trade associations would positively reflect on stimulating private sector companies in the Kingdom and aid in realizing transformative projects like NEOM and The Line.

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