A technology partnership between Saudi e-commerce firm 3Omlati and UK tech firm Ixaris was signed Wednesday in the presence of UK Minister of State for Trade and Investment Lord Green, who is in Riyadh to boost bilateral trade and investment. The deal will allow 3Omlati to use Ixaris' cloud-based payment software.
“The minister visited the King Abdulaziz City for Science and Technology (KACST) for a discussion of science and technology collaboration and the signing of a technology partnership between Ixaris, a UK firm, and 3Omlati, a Saudi company," a public diplomacy and communications official at the British Embassy in Riyadh told Arab News.
“The partnership was signed in the presence of Lord Green, British Ambassador John Jenkins and the president and vice president of KACST,” the official added.
Commenting on the partnership, Green said, “It is a prime example of how innovative firms in the UK and Saudi Arabia are working together for mutual benefit. The two countries have enjoyed longstanding trade and investment ties, and we look forward to further strengthening our relationship.”
According to the visiting UK minister, Saudi Arabia presents vast opportunities for British exporters looking to expand abroad.
The official stated that the bilateral collaboration areas include further exchanges of experience in the development of innovative small and medium establishments (SMEs) through technology transfer and use of venture capital. The purpose of the UK minister's visit is to discuss the development of Saudi-UK trade and investment with Minister of Commerce and Industry Tawfiq Al-Rabiah, he added.
The two ministers will also discuss the formation of a Joint Ministerial Trade Committee and the re-launch of the Saudi British Joint Business Council, the official said.
The role of the private sector in major infrastructure development and facilities management in Saudi Arabia and the UK will also be in focus during the minister’s visit.
Green will also share UK experience of public private partnerships with Minister of Economy and Planning Mohammed Al-Jasser and Abdulrahman Almofadhi, secretary general of the Public Investment Fund.
The visit follows a successful meeting of the Saudi-UK Joint Ministerial Committee on health care cooperation held in London on Sept. 19, when a number of institutional partnerships were signed with the Ministry of Health.
Several UK vocational training providers also recently signed agreements.
Green sees vast opportunities for British exporters in KSA
