FSC Holds Meeting with Delegation from World Affairs Councils of America

Thursday 1444/3/3 - 2022/09/29
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Riyadh, September 29, 2022, SPA -- The Federation of Saudi Chamber (FSC) yesterday hosted a meeting between Saudi businesspeople and a delegation from World Affairs Councils of America (WACA) to discuss aspects and fields of cooperation between the two sides to support Saudi-US relations.
At the beginning of the meeting, FSC Vice President Eng. Tariq Al-Haidari commended the strategic relations between the Kingdom of Saudi Arabia and the USA at all levels, mainly in the economic field, noting that the commercial exchange volume reached SAR114 billion in 2021 up by 32%, where the total commercial exchange volume over the past five years reached around SAR623 billion.
Al-Haidari noted that the Saudi Vision 2030 has provided new opportunities for foreign investments in the Saudi market, contributed to improving the business environment and enhanced the participation of the private sector, which reflected on the Saudi economy that grew in several sectors.
He also reviewed some achievements that the economy of the Kingdom of Saudi Arabia has realized, such as the growth of GDP by 12.2% in the second quarter of 2022, marking the highest quarterly growth rate since the third quarter of 2011, in addition to the increase of direct foreign investment flow by 9.5% in the first quarter of 2022 on an annual basis, an increase of investment licenses issued by the Ministry of Investment by 673.4% in the second quarter of 2022 on an annual basis, adding that the International Monetary Fund expected the Saudi GDP to go up by 7.8% this year, making it the fastest growing economy in the world.
For his part, head of the US delegation and WACA Board Member Osmar Abib said: “Discussions and talks that the delegates made were very fruitful and positive and will have a clear impact on partnership and cooperation relations between the Kingdom of Saudi Arabia and the USA,” noting that the visit aimed at discussing work opportunities under the Saudi Vision 2030, getting acquainted with the changes the vision made at the economic and social levels and what it includes of opportunities and initiatives, in addition to checking on the economic, educational and cultural activities.
Abib also reviewed the role of WACA, established in 1918, which is the biggest nonprofit organization that is devoted to teaching, inspiring and engaging Americans in international affairs and urgent global issues.
The Saudi side acquainted the US delegation with the top programs and initiatives of the Saudi Vision 2030, in addition to the mega projects that are being developed in Qiddiya and the Red Sea, among others, and the developments witnessed in the educational, tourism, technological, digital, artificial intelligence, women, youth, and SMEs sectors.
--SPA
15:12 LOCAL TIME 12:12 GMT
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