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Oslo, Riyadh Look to Boost Trade, Cooperation in Green Energy, Aquaculture Fields

Norwegian Ambassador to Saudi Arabia Thomas Lid Ball (Asharq Al-Awsat)
Norwegian Ambassador to Saudi Arabia Thomas Lid Ball (Asharq Al-Awsat)
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Oslo, Riyadh Look to Boost Trade, Cooperation in Green Energy, Aquaculture Fields

Norwegian Ambassador to Saudi Arabia Thomas Lid Ball (Asharq Al-Awsat)
Norwegian Ambassador to Saudi Arabia Thomas Lid Ball (Asharq Al-Awsat)

A Norwegian diplomat revealed that his country is actively seeking to enhance economic cooperation with Saudi Arabia, particularly in the fields of green energy and aquaculture, amid ongoing efforts to increase trade and investment, highlighting the deep bilateral relations.

Thomas Lid Ball, Norway's ambassador in Riyadh, expected that the coming years would witness further advancements on all fronts.

Ball drew attention to the promising investment opportunities presented by Saudi Arabia’s Vision 2030.

He also emphasized the strong desire of numerous Norwegian investors to operate in the Saudi market and take advantage of the vast opportunities it offers as one of the largest markets in the region.

Speaking to Asharq Al-Awsat, Ball anticipated an increase in activities and meetings between business sectors, as well as an exchange of visits by trade delegations.

This aims to explore investment opportunities in both Norway and Saudi Arabia, enhance trade and investment cooperation, and capitalize on the promising prospects available in various sectors for developing business partnerships.

Moreover, Ball highlighted Saudi Arabia’s economic advancements and its favorable investment environment, emphasizing the efforts to explore significant opportunities for economic cooperation between Norway and the Kingdom.

This extends beyond the oil and gas sectors to encompass healthcare, tourism, seafood industries, aquaculture, maritime industries, renewable energy, solar energy, and water sectors.

Ball reiterated his commitment to work towards achieving development and further enhancing bilateral trade relations.

He also anticipated the entry of new Norwegian companies into the Saudi market.

Ball stated that there are significant opportunities in the Kingdom that are currently undergoing a phase of transformation and development for sustainable growth. He emphasized the potential for expanding cooperation in various industries, including the seafood sector.

The diplomat clarified that Norway has made significant strides in the aquaculture industry, producing over half of the world’s farmed Atlantic salmon.

These salmon are exported to more than 100 countries, with total Norwegian salmon sales to Saudi Arabia reaching $27 million in 2019.

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FAO Official: Gulf States Shielded Themselves from Major Shocks

David Laborde, Director of the Agrifood Economics Division at the UN's Food and Agriculture Organization (FAO)
David Laborde, Director of the Agrifood Economics Division at the UN's Food and Agriculture Organization (FAO)
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FAO Official: Gulf States Shielded Themselves from Major Shocks

David Laborde, Director of the Agrifood Economics Division at the UN's Food and Agriculture Organization (FAO)
David Laborde, Director of the Agrifood Economics Division at the UN's Food and Agriculture Organization (FAO)

David Laborde, Director of the Agrifood Economics Division at the UN's Food and Agriculture Organization (FAO), told Asharq al-Awsat that global hunger increased sharply during the coronavirus pandemic, noting that the GCC countries were able to shield themselves from major shocks affecting food security.
Laborde added that global hunger affected over 152 million people, with no improvement in the past two years.
Today, 733 million people suffer from chronic hunger, and 2.3 billion face food insecurity, according to the UN annual report on “The State of Food Security and Nutrition in the World.”

Laborde explained that the global economic crisis has worsened food insecurity, keeping hunger levels high.
Alongside this, climate shocks and conflicts are major causes of hunger. He also pointed out that food insecurity is closely tied to inequality, and the economic crisis, rising living costs, and high interest rates are deepening existing inequalities both within and between countries.
On whether economic diversification in Gulf Cooperation Council (GCC) countries is boosting food security, Laborde said: “A move towards a more diversified economy and enhancing the ability to rely on various sources of food supplies are key drivers of food security resilience and stability.”
“GCC countries have managed to shield themselves from major shocks, primarily due to their high income levels and ability to cover import costs without difficulty,” he explained.
Regarding the FAO’s outlook on reducing global hunger, Laborde insisted that ending hunger will require a significant increase in funding.
When asked for suggestions on how governments could enhance food security, Laborde said: “Despite global figures remaining stable, improvements are seen in Asia and Latin America, showing that the right policies and conditions can reduce numbers.”
“Hunger is not inevitable. Investing in social safety nets to protect the poor, along with making structural changes to food systems to be more environmentally friendly, resilient, and equitable, is the right path forward,” emphasized Laborde.
The annual State of Food Security and Nutrition in the World report, published on Wednesday, said about 733 million people faced hunger in 2023 – one in 11 people globally and one in five in Africa.
Hunger and food insecurity present critical challenges affecting millions globally.
The annual report, released this year during the G20 Global Alliance for Hunger and Poverty Task Force ministerial meeting in Brazil, warns that the world is significantly lagging in achieving Sustainable Development Goal 2—ending hunger by 2030.
It highlights that global progress has regressed by 15 years, with malnutrition levels comparable to those seen in 2008-2009.
Despite some progress in areas like stunting and exclusive breastfeeding, a troubling number of people still face food insecurity and malnutrition, with global hunger levels rising.