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Real Estate - Agencies
The Saudi-American Business Opportunities Forum was recently held in Los Angeles
, with a large number of government officials and business leaders from both countries participating. This is the third forum between the Kingdom and the United States aimed at developing and strengthening economic, trade, and investment relations between the two nations.
The forum covered a number of topics, such as trade and investment, the economy and finance, health, education, energy, and water, and the trade ministers of both countries participated in the forum’s events.

Remarks by the Saudi Minister of Commerce
His Excellency Dr. Tawfiq Al-Rabiah, Minister of Commerce and Industry, affirmed that the Kingdom, under the leadership of the Custodian of the Two Holy Mosques, King Abdullah bin Abdulaziz Al Saud—may God protect him—and guided by his vision for the future,is committed to focusing on knowledge, the transfer and localization of advanced technology, the diversification of national income sources, building a strong foundation for sustainable development, and strengthening its relations with friendly nations.
In a speech delivered at the Saudi-American Business Opportunities Forum in Los Angeles, His Excellency noted the large number of Saudi students pursuing their studies at American universities in line with the Custodian of the Two Holy Mosques” vision for building a knowledge-based society and developing the Saudi economy.
He highlighted the bilateral relations between the Kingdom and the United States and the significant growth in trade relations between the two countries, expressing his appreciation for the participation of Her Excellency U.S. Secretary of Commerce Penny Pritzker in the forum’s events.He explained that the volume of trade between the two countries reached more than seventy-three billion dollars last year.
His Excellency said: ”Petroleum exports are an important part of the bilateral relations that have evolved alongside the growth in trade between the two sides, as well as the diversification of the Kingdom’s exports to the United States and the increase in the volume of Saudi imports of American products.”
The Investment Climate in the Kingdom
He emphasized that the Saudi market offers a conducive environment for business and investment, noting that the entry of more than 150 U.S. companies into the Saudi market for the first time last year is evidence of this.
His Excellency the Minister of Commerce noted that the partnership between the two sides extends beyond trade, pointing out that investment projects between them have contributed to creating more job opportunities in both countries, citing among the most recent such projects the Motiva joint venture in Texas between Saudi Aramco and Shell, the Sadara joint venture between Aramco and Dow Chemical, and the new aluminum production project between Saudi Ma’aden and Alcoa.
Remarks by the U.S. Secretary of Commerce
For her part, U.S. Secretary of Commerce Penny Brezinger described trade relations between the Kingdom of Saudi Arabia and the United States as thriving and called on U.S. companies to invest in business opportunities available in the Saudi market.

In a speech she delivered during the forum, Brezner highlighted the historic ties between the two countries, emphasizing the U.S. Department of Commerce’s interest in exchanging trade missions and strengthening cooperation between the two sides in the commercial sphere.

The U.S. Secretary of Commerce praised the development of the Saudi economy and the Kingdom’s government’s commitment to protecting intellectual property rights, streamlining business registration procedures, and the services provided by relevant authorities to investors in economic sectors.

She spoke about the Kingdom’s efforts to build essential infrastructure and leverage advanced technology in the fields of telecommunications and information security, expressing in this regard her hope to visit the Kingdom next year.
Joint Investment

Peter Robertson, Co-Chair of the Saudi-American Business Council, opened the forum’s meeting with a speech in which he praised the flourishing Saudi economy and the efforts made to build a knowledge-based society and foster interest in science and the applications of advanced technology.

Robertson highlighted the importance of the shared interests between the Saudi and American sides, underscoring the historic ties that have endured for more than sixty years.

For his part, Los Angeles Mayor Eric Garcetti expressed his pride that Los Angeles had been chosen as the venue for the forum’s third session, highlighting California’s economic standing, its close ties with Saudi business institutions, and the large number of Saudi students at California universities.

Abdullah Al-Rashid, head of the Saudi delegation to the Saudi-Spanish Joint Business Council, confirmed at the conclusion of the council’s proceedings that discussions had taken place over the past few days with business owners and companies in Spain, including the Spanish Supreme Council of Chambers of Commerce and Navigation (CMRAS).

Joint Investment
It is worth noting that investment opportunities were discussed with the Spanish side, which expressed its desire to invest in the Kingdom, emphasizing the importance of mutual visits and exploring available areas and opportunities. He noted that the meetings took place within the framework of the good relations between the two countries and were aimed at strengthening their commercial and investment cooperation.
According to data from the General Authority for Statistics and Information, the volume of trade between the Kingdom and Spain totaled 33.4 billion riyals in 2011, and Spain ranked 11th on the list of Saudi trade partners, Spain is one of the Kingdom’s major trading partners, with approximately 33 joint projects currently underway between the two countries, including 13 industrial projects, and 20 miscellaneous projects. In these industrial projects, Spain’s share is 32 percent, Saudi Arabia’s is 43 percent, and 25 percent comes from investors from other countries, while the share of Spanish investors in non-industrial projects is 29 percent, 52 percent for Saudis, and 19 percent for investors from other countries

Significant Participation
It is worth noting that the forum was attended by a number of government officials and business leaders from both countries. This is the third forum between the Kingdom and the United States aimed at developing and strengthening economic, trade, and investment relations between the two nations.
The forum covered a number of topics, such as trade and investment, the economy and finance, health, education, energy, and water.
It is noted that the volume of trade between the two countries reached (18,378) million riyals in 2012, of which (1,322) million riyals were Saudi exports to the United States and (17,056) million riyals were Saudi imports from the United States.