DUBAI: A delegation from Saudi Arabia traveled to Spain on Wednesday to represent the Kingdom at the third edition of the Saudi-Spanish Joint Committee (SSJC).
Delegates included key government and private sector figures who are looking to further strengthen longstanding bilateral ties between the two nations, reported state agency SPA.
The SSJC, which took place on Thursday, included meetings between the Saudi-Spanish Business Forum and Saudi-Spanish Business Council, and site visits to key Spanish private sector establishments.
“International partnerships are key to accelerating sustainable economic development at home and abroad,” said Faisal bin Fadhil Alibrahim, Saudi Arabia’s Minister of Economy, ahead of the SSJC.
“Spain remains a key international partner in Saudi Arabia’s transformation journey under Saudi Vision 2030, as we seek to deepen the impact of our longstanding bilateral relations, to provide a secure and prosperous economic future for all,” added Alibrahim
Despite a global trade slowdown caused by the COVID-19 pandemic, bilateral trade between Saudi Arabia and Spain grew by more than $1 billion (SAR3.8 billion) between 2020 and 2021, wrote SPA citing the latest data from the General Authority for Statistics (GASTAT).
In 2021, Saudi exports to Spain reached a value of $3 billion (SAR11.4 billion), while Spanish imports to Saudi were valued at $2.34 billion (SAR8.9 billion).
Both nations are also working on various initiative that will help foster economic growth.
Representatives from the Ministry of Energy, sport, finance, and health were among those accompanying the Saudi delegation.
The SSJC, which was established in 2007, was last held in Riyadh in 2018.
Value of Saudi exports to Spain grew by $1 b between 2020-2021: GASTAT
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Value of Saudi exports to Spain grew by $1 b between 2020-2021: GASTAT
- Saudi exports to Spain reached a value of $3 billion (SAR11.4 billion)
- The SSJC, which was established in 2007, was last held in Riyadh in 2018
