Brexit: No negative effect on Saudi-UK trade ties

A boat flying a large "In" flag, campaigning to remain in the EU in the upcoming referendum sails by the British Houses of Parliament to oppose a flotilla of boats from the group 'Fishing for Leave' (L) on the river Thames in London, in this June 15, 2016 photo. (AFP)

RIYADH: The British side in the Saudi British Business Council underscored the importance of the commercial and investment relations between the Kingdom of Saudi Arabia and the United Kingdom, noting that Britain’s exit from the European Union’s gate would not leave a negative impact on the economic relations between the two countries.
The annual meeting of the British side in the Council which was held in London recently, led by Lord King, also underscored the importance of Britain’s continuing its economic and commercial practice as usual regardless of any negative repercussions of the recently-held referendum on the EU, expressing hope, at the same time, that the activities of the joint council would continue following the launch of the Kingdom’s vision 2030 and the national transformation program.
In a press release following the meeting, the council said the Kingdom of Saudi Arabia is Britain’s most important market in the Middle East. The statement said Britain’s exports amounted to €5.5 billion in 2015 while Saudi investments in Britain were estimated at €62 billion.