Opening of European Chamber in Riyadh Signals New Partnership Era

The European Chamber of Commerce in the Kingdom of Saudi Arabia (ECCKSA) was inaugurated in Riyadh on Wednesday.

The European Chamber of Commerce in the Kingdom of Saudi Arabia (ECCKSA)  officially opened its doors in Riyadh on Wednesday, marking a new phase in trade and economic cooperation between Saudi Arabia and the EU.
The launch event was attended by distinguished guests, including Ibrahim Al-Mubarak, assistant minister of investment; Luigi Di Maio, EU special representative for the Gulf; and Christophe Farnaud, the EU ambassador to Saudi Arabia, Oman, and Bahrain.
Al-Mubarak highlighted how ECCKSA’s initiatives in Saudi Arabia align with the Kingdom’s national transformation plan, Vision 2030, focusing on creating new opportunities in non-oil sectors.
He noted that ECCKSA’s establishment will boost trade, investment, and cross-border cooperation, supporting the Kingdom’s economic diversification efforts.
Al-Mubarak also mentioned that over 300 European companies have been licensed to move their regional headquarters to Riyadh, with a target of attracting 480 such companies by 2030.
He added that foreign direct investment from Europe has doubled to around SAR 218.5 billion over the past five years.
On his part, Di Maio said that the establishment of the ECCKSA marks an important new chapter in the partnership between the EU and Saudi Arabia.
“I am convinced that this initiative will be key in bringing closer and in integrating our economies. The ECCKSA will certainly become a point of reference for European companies doing business in the Kingdom and Saudi companies looking for partners and markets in the EU,” said Di Maio.
“It will facilitate joint ventures and boost trade and investments. There is so much untapped potential and space to grow in our economic cooperation and I am confident that the next months and years will bring about more substantive and sustainable progress,” Di Maio added.
Apart from his prediction that the chamber would become a hub for European companies in Saudi Arabia, Di Maio stressed that it would help strengthen business connections and support Saudi Arabia’s economic diversification efforts under Vision 2030.