Saudi Minister of Commerce and Industry Dr. Tawfiq Al-Rabiah details the sustained growth in bilateral trade exchange between Saudi Arabia and France during the 36th session of the Saudi-Franco Business Council in Paris on Wednesday Saudi Gazette report PARIS — The vast and diverse investment opportunities available in several key sectors in the Kingdom were the major highlight at the 36th session of the Saudi-Franco Business Council, held here on Wednesday on the sidelines of the high profile visit of Deputy Crown Prince Muhammad Bin Salman, second deputy premier and minister of defense. Addressing the forum, Minister of Commerce and Industry Dr. Tawfiq Al-Rabiah said that the visit of deputy crown prince comes in the framework of the excellent and historic bilateral relations between the two countries. He described France as one of the major trade partners of Saudi Arabia, the Saudi Press Agency reported. According to Al-Rabiah, the volume of trade exchange between the two countries reached more than 12 billion euros in 2014, and this figure records an increase of over half a billion euros while comparing with the previous year. “France ranks 8th among the leading 10 countries from where the Kingdom imported goods in 2014 and the French stake makes up 3.4 percent of the total imports. Also, France holds 10th position among the countries to where the Kingdom exported goods last year, with a share of 2.5 percent of the total exports,” Al-Rabiah said adding that France's position is three in terms of the volume of investments made in the Kingdom and that amounted to around 14 billion euros. He said that the Kingdom enjoys solid industrial base in a wide range of fields, including petrochemicals, food, fertilizers, steel and cement. In his speech, Muhammad Bin Ali Bin Ladin, co-chairman of the council, commended the potential of Saudi French relations in different fields. French Ambassador Bertrand Besancenot said that the council session was being held at a time when the two countries embraced a policy of upgrading their relations to the highest level of strategic partnership. He said that the two countries have almost agreed to implement as many as 20 projects worth a total of 12 billion euros, and these included agreements and financing deals. These projects are mainly concentrated in the fields of transport, communications, industry, nuclear energy, healthcare, and research and training. Video presentations on the investment opportunities in various fields, especially in agriculture, healthcare, and housing in the Kingdom were made at the forum.
