Hezbollah fires rocket barrages into Israel after deadly Beirut strikes    British man captured while fighting with Ukraine    Far-right candidate takes shock lead in Romania presidential election    Indians risk it all to chase the American Dream    Al Ittihad claims top spot in Saudi Pro League after victory over Al Fateh    Do cigarettes belong in a museum?    Saudi Arabia joins international partnership initiative to boost hydrogen economy    Riyadh Emir inaugurates International Conference on Conjoined Twins in Riyadh    Saudi delegation participates in the 7th U20 Deans Summit in Brazil    Al-Jubeir discusses with EU officials enhancing bilateral cooperation    GASTAT: Non-oil exports up 22.8% in September 2024    Saudi Arabia to host 28th Annual World Investment Conference in Riyadh    Saudi Arabia allows licensed flour milling companies to export flour    Al Khaleej stuns Al Hilal with 3-2 victory, ending 57-match unbeaten run    SFDA move to impose travel ban on workers of food outlets in the event of food poisoning    Al Okhdood halts Al Shabab's winning streak with a 1-1 draw in Saudi Pro League    Saudi musical marvels takes center stage in Tokyo's iconic opera hall    Al Khaleej qualifies for Asian Men's Club League Handball Championship final    Katy Perry v Katie Perry: Singer wins right to use name in Australia    Sitting too much linked to heart disease –– even if you work out    Order vs. Morality: Lessons from New York's 1977 Blackout    India puts blockbuster Pakistani film on hold    The Vikings and the Islamic world    Filipino pilgrim's incredible evolution from an enemy of Islam to its staunch advocate    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Federation of Saudi Chambers Announces Establishing Saudi-Belgian-Luxembourg Business Council
Published in Saudi Press Agency on 13 - 03 - 2022

The Federation of Saudi Chambers today signed a memorandum of understanding (MOU) with the Arab-Belgian-Luxembourg Chamber of Commerce, to establish the Saudi-Belgian-Luxembourg Business Council, to promote intra-regional trade and increase the volume of trade and investment cooperation between the Kingdom, Belgium, and Luxembourg.
The Council will be tasked with various commercial and promotional activities in trade, investment, and technology transfer, focusing on the targeted sectors. It will also provide a platform for Saudi, Belgian and Luxembourgish businessmen to introduce and promote their activities and establish commercial partnerships.
This announcement came during the activities of the Saudi-Belgian-Luxembourg Business Forum. The MOU was signed by the Secretary-General of the Federation of Saudi Chambers of Commerce, Hussein bin Abdul-Qader Al-Abdul-Qader, and the Secretary-General of the Belgian Arab Chamber of Commerce, Qaisar Hijazin.
The First Vice President of the Federation of Saudi Chambers of Commerce, Eng. Tariq bin Mohammed Al-Haidari, stressed during his speech at the forum the importance of the meeting as it provides a great opportunity to increase economic growth, especially after recovering from the Covid-19 pandemic, which lead to a decrease in the volume of intra-regional trade in 2020 to around SR17 billion, compared to SR27 billion in 2019.
He pointed out that the volume of trade exchange during the fourth quarter of 2021 increased by 54% reaching SR6.6 billion compared to the same quarter of the previous year, adding that the total volume of trade between the two countries is out of proportion with the economic capabilities and opportunities in both sides.
Meanwhile, the Secretary-General of the Arab-Belgian Chamber of Commerce, Qaisar Hijazin, said that the Belgian-Luxembourg trade mission is the largest and first after the pandemic, as it includes a large number of companies, citing the distinguished relations between the Kingdom and Belgium, which date to more than 100 years.
The Advisor on International Affairs at the Luxembourg Chamber of Commerce, Edith Stein, highlighted the positive changes that the Kingdom is witnessing on all levels, especially the economy, expressing the interest of Luxembourg companies to enter the Saudi market, explore investment opportunities and share their experiences in various sectors, calling on Saudi investors to visit Luxembourg and to be acquainted on the available investment opportunities.
Moreover, Deputy Ambassador of Belgium to the Kingdom Elisa De Raes said the visit of the Belgian trade delegation aims to discuss investment opportunities and commercial partnerships, praising the developments witnessed by the Kingdom in light of Vision 2030 and the huge investment opportunities it provides, which made it a preferred destination for international investments, adding that Belgian companies have the experience, knowledge, and technology necessary to engage in the Kingdom's projects.
The Saudi-Belgian-Luxembourg Business Council, as per the MOU, will be mandated with opening new qualitative areas for economic cooperation, facilitating continuous interaction between business sectors and working to remove challenges and obstacles, as well as exchanging information on available markets and investment opportunities, enabling commercial and investment partnerships, and providing recommendations to the competent authorities in the two countries to improve economic relations, encourage participation in exhibitions and forums, exchange visits and trade delegations.


Clic here to read the story from its source.