Saudi Arabia is spearheading a major drive to promote trade with US and investment in the Kingdom. In a press statement published today, Omar Bahlaiwa, Secretary-General of the Saudi Committee for the Development of International Trade (CIT), said a 50-member multi-sectoral trade mission will leave for the US in May to visit five major cities - New York, Atlanta, Chicago, Houston and San Francisco. He said the objective of the trade mission is to scout for trade and investment opportunities between the two countries, especially when the Saudi economy remains strong with the liberalization program in full swing. Bahlaiwa said that besides trade and investment, they are also looking for joint ventures in the financial sector. "Our major partner is still the United States and I think it will continue for some time," Bahlaiwa said. "However at the same time, we are looking at Europe, the Far East-countries like China, Japan, Korea - as other strategic partners." "The growth rate of the Saudi economy is very high...but that growth did not reflect positively on imports from the United States," he said.
