Saudi-British business council relaunched

The Saudi-British joint business council was relaunched with the Council of Saudi Chambers (CSC) hosting its first meeting in Riyadh.
"The business council was successfully relaunched yesterday by the two Co-Chairs Sheikh Nasser AlMutawa, Chair of Samama Holding and Baroness Symons," a British embassy official told Arab News.
The meeting was held at the CSC with a string turn out on both sides, a CSC official said adding the two sides stressed the importance of strengthening and developing further prospects for trade and investment cooperation between them.
They also agreed to draw a roadmap on the role of the private sector in major infrastructure development and facilities management in Saudi Arabia and the UK to further boost bilateral trade and investment.
The council meetings alternate their location between the UK and the Kingdom.
They play a key role in strengthening the trade and investment relationships between the two countries, with the aim of helping to create new partnerships and identifying new opportunities for cooperation.
The meetings consist of top level representation from the government and business sectors of both countries.
Saudi Arabia and the UK have enjoyed long standing trade and investment ties and look forward to further strengthening their relationship.
Britain is an important trading partner for the Kingdom.
Saudi Arabia is UK's biggest business partner in the Middle East and the UK is the second largest foreign investor in the Kingdom.
Earlier, a technology partnership between Saudi e-commerce firm 3Omlati and UK tech firm Ixaris was signed on Wednesday in presence of Lord Green, UK Minister of State for Trade and Investment, who was in Riyadh to discuss the development of Saudi-UK trade and investment with Dr Tawfig Al Rabiah, Minister of Commerce and Industry.
"The two ministers agreed to activate a Joint Ministerial Trade Committee headed by the two ministers of Commerce which will meet in London in early 2014," the British embassy official informed.