Saudi Arabia recently engaged with global partners to bolster bilateral cooperation, highlighting its commitment to expediting economic and diplomatic ties.
Saudi Minister of Foreign Affairs Prince Faisal bin Farhan met with New Zealand’s Deputy Prime Minister Winston Peters on Monday to discuss the strengthening of bilateral relations. They also considered ways to advance cooperation, aligning with the aspirations of both nations. The meeting, held in Riyadh, was attended by Saudi Ambassador to New Zealand Muhanna Aba Al-Khail, reinforcing the significance of their diplomatic interactions.
During the discussions, the two ministers addressed regional and international issues of mutual interest, paving the way for enhanced alignment on various fronts.
The international cooperation didn’t stop there. On February 24, over 70 Qatari companies showcased their offerings at the Saudi-Qatari Business Forum held at Crowne Plaza Digital City. The event drew attention from major figures, including Saudi Commerce Minister Majid Al-Kassabi and Qatar’s State Minister of Foreign Trade Ahmad Mohammed Al-Sayed. The forum aimed to boost trade and investment between the two nations, underscoring the importance of mutual economic ventures.
At this forum, discussions revolved around enhancing economic collaboration, exploring investment opportunities, and assessing their respective business environments. Notably, trade between Saudi Arabia and Qatar was reported to have reached SR4.6 billion (approximately $1.23 billion) in 2024, with Saudi exports to Qatar valued at SR3.2 billion and imports totaling SR1.4 billion.
On the preceding day, February 23, the Saudi-Qatari Business Council convened to address various mutual concerns. Sheikh Khalifa bin Jassim Al-Thani, chairman of the Qatar Chamber, led the discussions alongside Hamad bin Ali Al-Shuwaier from the Saudi side. The meeting reflected the deep ties between the two countries, emphasizing their joint efforts to streamline bilateral trade procedures and promote business collaborations.
Sheikh Khalifa articulated the enduring strength of the relations between Qatar and Saudi Arabia, stating, “The strength of my country’s ties with Saudi Arabia has always been, and will continue to be, a steadfast foundation for advancing development, growth, and prosperity for both nations.”
Aiming for enhanced economic integration, discussions highlighted significant opportunities across both nations’ business sectors. Al-Huwaizi, president of the Federation of Saudi Chambers, also noted the unique potential arising from Qatar hosting the World Cup, which could benefit Saudi expertise and opportunities.
Al-Shuwaier expressed ambitions for the private sector to play a significant role in enriching economic relations between the two countries, stating, “The opportunities provided by Saudi Vision 2030 and Qatar Vision 2030 call for initiatives to identify, promote, and share economic opportunities within both business sectors.”
Overall, the proceedings of the meetings reveal both nations' deep commitment to enhancing trade relations and institutional cooperation. With strategic visions aligning, Saudi Arabia and Qatar are setting the stage for future collaborations across various sectors, aspiring for mutual growth and prosperity.