RIYADH – A memorandum of understanding to form a Saudi-Australian Business Council was signed in Canberra on Friday. The ceremony took place at the Australian Parliament Building as part of the agenda of the 9th session of the Saudi-Australian Joint Ministerial Committee headed for the Saudi part by Dr. Fahd Bin Abdulrahman Balghunaim, the Agriculture Minister, and for the Australian part by Craig Emerson, the Minister of Trade and Competitiveness. In a statement on the occasion, the Secretary General of CSC, Engineer Khalid Muhammed Al Otaibi said that the signing of MOU shows the two counties' keenness to develop further their trade, business, and investment ties and both the CSC and its Australian counterpart will act as platforms to facilitate the promotions of products and services of each country to the other. “The two countries have huge resources and investment opportunities that can be beneficial to both parties. And the Kingdom can benefit largely from the transfer of Australian technology in many fields. The CSC will focus in leading this process to the sectors like mining, gas, agriculture, railways, water, energy and training and education,” he added. The new council, to be composed of business members interested or already have businesses in the two countries, will be the 33rd business council at the CSC that links Saudi businessmen and their counterparts in the countries that that they are part of these councils. These councils aim at acting as forums to exchange business matters of interest for both parties, solving business problems between their country and finding ways to promote economic and business ties between them, and to boost their countries economic and trade ties with the Kingdom.
