{"id":11998,"date":"2016-07-28T09:43:59","date_gmt":"2016-07-28T06:43:59","guid":{"rendered":"http:\/\/www.amlak.net.sa\/?p=11998"},"modified":"2016-07-28T09:43:59","modified_gmt":"2016-07-28T06:43:59","slug":"%d8%a7%d8%b1%d8%aa%d9%81%d8%a7%d8%b9-%d8%ad%d8%ac%d9%85-%d8%a7%d9%84%d8%aa%d8%a8%d8%a7%d8%af%d9%84-%d8%a7%d9%84%d8%aa%d8%ac%d8%a7%d8%b1%d9%8a-%d8%a8%d9%8a%d9%86-%d8%a7%d9%84%d9%85%d9%85%d9%84%d9%83","status":"publish","type":"post","link":"https:\/\/amlak.net.sa\/en\/11998\/","title":{"rendered":"The volume of trade between the Kingdom and America rose from 26 to more than 74 billion dollars"},"content":{"rendered":"

Economic and trade relations between the Kingdom and the United States of America have witnessed\u00a0 <\/span>A significant development has occurred, with the volume of trade between the two countries increasing from $26 billion to more than $74 billion over the past ten years, according to Dr. Bashir bin Mohammed Al-Gharid, Executive Director and Secretary General of the Saudi-American Business Council.<\/p>\n

Economic ties between the two countries<\/strong><\/span><\/p>\n

Through economic relations between the Kingdom and the United States, the latter also holds the largest share of direct foreign investment from the Kingdom, reaching $13.3 billion in 2014. Major investment projects include the establishment of Sadara Chemical Company, a joint venture between Dow Chemical and Saudi Aramco, estimated to cost over $20 billion, making it the largest petrochemical project ever undertaken simultaneously in the world. This was revealed by Dr. Bashir bin Mohammed Al-Gharidh, Executive Director and Secretary General of the Saudi-American Business Council. The Saudi-American Business Council is a non-profit organization whose goal is to strengthen economic relations between the Kingdom and the United States. Its board of directors comprises Saudi and American members who believe in the importance of strengthening economic ties between the two countries. The Saudi side is chaired by Abdullah bin Saleh bin Juma, while the American side is chaired by Peter Robertson, retired Vice Chairman of Chevron. Saudi and American companies represented on the Council contribute financially to the costs of the Council's offices in Riyadh and Washington, D.C.<\/p>\n

Largest gathering of business relationships<\/strong><\/span><\/p>\n

Since its inception, this council has enjoyed special support and attention from the Ministries of Finance and Commerce and Industry. The council holds several forums to promote investment opportunities between the two countries. The first US-Saudi Business Opportunities Forum was held in Chicago in 2010. That event attracted more than 1,100 business leaders from both countries to explore new opportunities for cooperation and to expand existing trade relations. It was the largest gathering of its kind for bilateral business relations in the history of the Kingdom and the United States. This gathering was followed by similarly successful forums of the same size and scope held in Atlanta in 2011 and Los Angeles in 2013, and the fourth Business Opportunities Forum held last March in Riyadh.<\/p>\n

Industrial sectors<\/strong><\/span><\/p>\n

American companies possess expertise across all industrial sectors and have contributed their knowledge to the Kingdom's development over the years. They are committed partners in the successful implementation of the National Transformation Program. For example, members of the US Business Council attend most business forums and actively seek opportunities to contribute to the program. Furthermore, US trade delegations are scheduled to visit various sectors to familiarize themselves with investment opportunities and the Kingdom's business regulations, and to meet with their Saudi counterparts.<\/p>\n

In the past ten years, the volume of trade between the Kingdom and the United States has increased from 26 billion US dollars to more than 74 billion US dollars. Today, the Kingdom is America's 12th largest trading partner, while the United States is the Kingdom's second largest trading partner. The United States also holds the largest share of direct foreign investment from the Kingdom, which amounted to 13 billion and 300 million US dollars in 2014.<\/p>\n

Saudi and American companies<\/strong><\/span><\/p>\n

Hundreds of companies operating in the Saudi market are active on the ground in the Kingdom, as well as through direct exports and distribution agencies. Many of the largest industries in which American companies are involved are also considered priorities for the Kingdom's development. These priorities include healthcare, education, information and communications technology, downstream chemicals and manufacturing, agriculture, water resources, defense and security, and other industrial sectors. Clearly, the trade relationship between the United States and Saudi Arabia has grown strongly for over 80 years, through periods of economic boom and bust, war and regional conflict, and fluctuations in oil prices. This relationship has flourished because it is built on a solid foundation of mutual respect and benefit. For decades, American companies have added economic value and contributed to technology transfer through their commercial and industrial activities in the Kingdom.<\/p>","protected":false},"excerpt":{"rendered":"

Reading time: <\/span> 2<\/span> Minutes<\/span><\/span>Economic and trade relations between the Kingdom and the United States have seen significant growth, with the volume of bilateral trade rising from $26 billion to over $74 billion over the past ten years.This was revealed by Dr. Bashir bin Mohammed Al-Ghurayid, Executive Director and Secretary General of the Saudi-American Business Council. Economic ties between the two countries and through economic relations between \u2026 Read more<\/a><\/p>","protected":false},"author":10,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","_seopress_robots_follow":"","_seopress_robots_imageindex":"","_seopress_robots_snippet":"","_seopress_robots_primary_cat":"0","_seopress_robots_breadcrumbs":"","_seopress_robots_freeze_modified_date":"","_seopress_robots_custom_modified_date":"","_seopress_robots_canonical":"","_seopress_social_fb_title":"","_seopress_social_fb_desc":"","_seopress_social_fb_img":"","_seopress_social_fb_img_attachment_id":0,"_seopress_social_fb_img_width":0,"_seopress_social_fb_img_height":0,"_seopress_social_twitter_title":"","_seopress_social_twitter_desc":"","_seopress_social_twitter_img":"","_seopress_social_twitter_img_attachment_id":0,"_seopress_social_twitter_img_width":0,"_seopress_social_twitter_img_height":0,"_seopress_redirections_value":"","_seopress_redirections_enabled":"","_seopress_redirections_enabled_regex":"","_seopress_redirections_logged_status":"","_seopress_redirections_param":"","_seopress_redirections_type":0,"_seopress_analysis_target_kw":"","_seopress_news_disabled":"","_seopress_video_disabled":"","_seopress_video":[],"_seopress_pro_schemas_manual":[],"_seopress_pro_rich_snippets_disable_all":"","_seopress_pro_rich_snippets_disable":[],"_seopress_pro_schemas":[],"amlak_video_sent":"","footnotes":""},"categories":[7791],"tags":[],"class_list":["post-11998","post","type-post","status-publish","format-standard","hentry","category-national-strategy"],"acf":{"amlak_post_excerpt":"","amlak_post_excerpt_source":{"label":"Amlak post excerpt","type":"text","formatted_value":""}},"featured_image_urls":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":"","trp-custom-language-flag":"","event-thumbnail":"","event-medium":"","event-large":"","event-hero":""},"author_info":{"info":["\u0627\u0645\u0644\u0627\u0643 \u0627\u0644\u0639\u0642\u0627\u0631\u064a\u0629"]},"category_info":"\u0627\u0644\u0627\u0633\u062a\u0631\u0627\u062a\u064a\u062c\u064a\u0629 \u0627\u0644\u0648\u0637\u0646\u064a\u0629<\/a>","tag_info":"\u0627\u0644\u0627\u0633\u062a\u0631\u0627\u062a\u064a\u062c\u064a\u0629 \u0627\u0644\u0648\u0637\u0646\u064a\u0629","comment_count":"0","_links":{"self":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts\/11998","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/comments?post=11998"}],"version-history":[{"count":0,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts\/11998\/revisions"}],"wp:attachment":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/media?parent=11998"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/categories?post=11998"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/tags?post=11998"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}