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Saudi Delegation Visits Netherlands to Boost Economic, Commercial Partnership

The Saudi delegation's meeting to review economic cooperation opportunities in the Netherlands (Asharq Al-Awsat)
The Saudi delegation's meeting to review economic cooperation opportunities in the Netherlands (Asharq Al-Awsat)
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Saudi Delegation Visits Netherlands to Boost Economic, Commercial Partnership

The Saudi delegation's meeting to review economic cooperation opportunities in the Netherlands (Asharq Al-Awsat)
The Saudi delegation's meeting to review economic cooperation opportunities in the Netherlands (Asharq Al-Awsat)

The Saudi government says it wants to boost commercial and economic partnership in priority areas with the Netherlands.

A Saudi delegation, headed by Vice Minister of Commerce and CEO of the National Competitiveness Center (NCC) Iman al-Mutairi, arrived in the Netherlands to hold talks and enhance commercial and economic partnership.

The Saudi delegation includes figures from the energy, investment, environment, water, and agriculture ministries, in addition to officials from the Saudi Ports Authority, General Authority for Foreign Trade, Technical and Vocational Training Corporation, the National Competitiveness Center, Jeddah Islamic Port, and Federation of Saudi Chambers, in addition to representatives of top national companies, such as Saudi Aramco, SABIC, Saudi Investment Recycling Company (SIRC).

The delegates are scheduled to hold several meetings with government institutions and the business sector in the Netherlands.

Dutch Vice Minister for Foreign Economic Relations Hanneke Schuiling received the Saudi delegation in The Hague in the presence of Saudi Ambassador Ziad al-Atiyah. The meeting discussed means to enhance the economic partnership between the two countries in light of the Vision 2030.

On the first day, the delegation visited the Innovation Center for Artificial Intelligence (ICAI), the University of Amsterdam, and the village of the business incubator.

The delegates viewed the latest developments and practices in light of the Netherlands' comprehensive expertise in innovative sciences, developing know-how and technology in renewable energy, food, transport, logistic services, healthcare, and smart cities.

Later, the Dutch Foreign Ministry organized working sessions that saw the participation of leaders of major companies like Shell, Unilever, and Philips, and Confederation of Netherlands Industry and Employers (VNO-NCW), and the Netherlands Organization for Applied Scientific Research (TNO).

VNO-NCW is the biggest union for businesspeople and industry in the Netherlands and represents more than 185,000 facilities, while TNO is one of the most prominent research institutions concerned with circular economy and sustainable infrastructure in the world.

Saudi stakeholders reviewed promising opportunities, cooperation aspects, and partnerships mainly in the renewable energy field, in light of Saudi Arabia's competitive features thanks to its geographical location and climate, benefiting from renewable energy resources as a good source economically and a supporter for efforts to diversify energy resources.

The last meeting in Riyadh in March dealt with promising opportunities in the Kingdom, cooperation between the two countries' business sectors, and addressed partnership in the circular economy, health, and other economic activities.

Mutairi stressed at the time that the meeting was necessary for the Saudi and Dutch business sectors to enhance economic cooperation.

She noted that over 600 legislative and procedural reforms were established, which contributed to the development of the business environment and enhanced the Kingdom's competitiveness.

She pointed out that it was important for companies to check the Istitlaa platform to review regulations and guidelines, noting that since it was established, the Center has monitored the challenges facing the private sector and integrated with more than 60 government agencies.

NCC CEO indicated that the Center facilitates initiatives of the public and private sectors to adopt innovation, establish sustainability and growth methods, and effectively use resources.

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IMF and Arab Monetary Fund Sign MoU to Enhance Cooperation

The MoU was signed by IMF Managing Director Dr. Kristalina Georgieva and AMF Director General Dr. Fahad Alturki - SPA
The MoU was signed by IMF Managing Director Dr. Kristalina Georgieva and AMF Director General Dr. Fahad Alturki - SPA
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IMF and Arab Monetary Fund Sign MoU to Enhance Cooperation

The MoU was signed by IMF Managing Director Dr. Kristalina Georgieva and AMF Director General Dr. Fahad Alturki - SPA
The MoU was signed by IMF Managing Director Dr. Kristalina Georgieva and AMF Director General Dr. Fahad Alturki - SPA

The International Monetary Fund (IMF) and the Arab Monetary Fund (AMF) signed a memorandum of understanding (MoU) on the sidelines of the AlUla Conference on Emerging Market Economies (EME) to enhance cooperation between the two institutions.

The MoU was signed by IMF Managing Director Dr. Kristalina Georgieva and AMF Director General Dr. Fahad Alturki, SPA reported.

The agreement aims to strengthen coordination in economic and financial policy areas, including surveillance and lending activities, data and analytical exchange, capacity building, and the provision of technical assistance, in support of regional financial and economic stability.

Both sides affirmed that the MoU represents an important step toward deepening their strategic partnership and strengthening the regional financial safety net, serving member countries and enhancing their ability to address economic challenges.

Business

Saudi Chambers Federation Announces First Saudi-Kuwaiti Business Council

File photo of the Saudi flag/AAWSAT
File photo of the Saudi flag/AAWSAT
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Saudi Chambers Federation Announces First Saudi-Kuwaiti Business Council

File photo of the Saudi flag/AAWSAT
File photo of the Saudi flag/AAWSAT

The Federation of Saudi Chambers announced the formation of the first joint Saudi-Kuwaiti Business Council for its inaugural term (1447–1451 AH) and the election of Salman bin Hassan Al-Oqayel as its chairman.

Al-Oqayel said the council’s formation marks a pivotal milestone in economic relations between Saudi Arabia and Kuwait, reflecting a practical approach to enabling the business sectors in both countries to capitalize on promising investment opportunities and strengthen bilateral trade and investment partnerships, SPA reported.

He noted that trade between Saudi Arabia and Kuwait reached approximately SAR9.5 billion by the end of November 2025, including SAR8 billion in Saudi exports and SAR1.5 billion in Kuwaiti imports.

Business

Leading Harvard Trade Economist Says Saudi Arabia Holds Key to Success in Fragmented Global Economy

Professor Pol Antràs speaks during a panel discussion at the AlUla Conference for Emerging Market Economies (Asharq Al-Awsat).
Professor Pol Antràs speaks during a panel discussion at the AlUla Conference for Emerging Market Economies (Asharq Al-Awsat).
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Leading Harvard Trade Economist Says Saudi Arabia Holds Key to Success in Fragmented Global Economy

Professor Pol Antràs speaks during a panel discussion at the AlUla Conference for Emerging Market Economies (Asharq Al-Awsat).
Professor Pol Antràs speaks during a panel discussion at the AlUla Conference for Emerging Market Economies (Asharq Al-Awsat).

Harvard University economics professor Pol Antràs said Saudi Arabia represents an exceptional model in the shifting global trade landscape, differing fundamentally from traditional emerging-market frameworks. He also stressed that globalization has not ended but has instead re-formed into what he describes as fragmented integration.

Speaking to Asharq Al-Awsat on the sidelines of the AlUla Conference for Emerging Market Economies, Antràs said Saudi Arabia’s Vision-driven structural reforms position the Kingdom to benefit from the ongoing phase of fragmented integration, adding that the country’s strategic focus on logistics transformation and artificial intelligence constitutes a key engine for sustainable growth that extends beyond the volatility of global crises.

Antràs, the Robert G. Ory Professor of Economics at Harvard University, is one of the leading contemporary theorists of international trade. His research, which reshaped understanding of global value chains, focuses on how firms organize cross-border production and how regulation and technological change influence global trade flows and corporate decision-making.

He said conventional classifications of economies often obscure important structural differences, noting that the term emerging markets groups together countries with widely divergent industrial bases. Economies that depend heavily on manufacturing exports rely critically on market access and trade integration and therefore face stronger competitive pressures from Chinese exports that are increasingly shifting toward alternative markets.

Saudi Arabia, by contrast, exports extensively while facing limited direct competition from China in its primary export commodity, a situation that creates a strategic opportunity. The current environment allows the Kingdom to obtain imports from China at lower cost and access a broader range of goods that previously flowed largely toward the United States market.

Addressing how emerging economies should respond to dumping pressures and rising competition, Antràs said countries should minimize protectionist tendencies and instead position themselves as committed participants in the multilateral trading system, allowing foreign producers to access domestic markets while encouraging domestic firms to expand internationally.

He noted that although Chinese dumping presents concerns for countries with manufacturing sectors that compete directly with Chinese production, the risk is lower for Saudi Arabia because it does not maintain a large manufacturing base that overlaps directly with Chinese exports. Lower-cost imports could benefit Saudi consumers, while targeted policy tools such as credit programs, subsidies, and support for firms seeking to redesign and upgrade business models represent more effective responses than broad protectionist measures.

Globalization has not ended

Antràs said globalization continues but through more complex structures, with trade agreements increasingly negotiated through diverse arrangements rather than relying primarily on multilateral negotiations. Trade deals will continue to be concluded, but they are likely to become more complex, with uncertainty remaining a defining feature of the global trading environment.

Interest rates and artificial intelligence

According to Antràs, high global interest rates, combined with the additional risk premiums faced by emerging markets, are constraining investment, particularly in sectors that require export financing, capital expenditure, and continuous quality upgrading.

However, he noted that elevated interest rates partly reflect expectations of stronger long-term growth driven by artificial intelligence and broader technological transformation.

He also said if those growth expectations materialize, productivity gains could enable small and medium-sized enterprises to forecast demand more accurately and identify previously untapped markets, partially offsetting the negative effects of higher borrowing costs.

Employment concerns and the role of government

The Harvard professor warned that labor markets face a dual challenge stemming from intensified Chinese export competition and accelerating job automation driven by artificial intelligence, developments that could lead to significant disruptions, particularly among younger workers. He said governments must adopt proactive strategies requiring substantial fiscal resources to mitigate near-term labor-market shocks.

According to Antràs, productivity growth remains the central condition for success: if new technologies deliver the anticipated productivity gains, governments will gain the fiscal space needed to compensate affected groups and retrain the workforce, achieving a balance between addressing short-term disruptions and investing in long-term strategic gains.