In Riyadh, The European Chamber of Commerce Opens

In Riyadh, The European Chamber of Commerce Opens

RIYADH: On Wednesday, the European Chamber of Commerce in Saudi Arabia was officially opened.

Prominent attendees at the launch event included EU special representative for the Gulf Luigi Di Maio, assistant minister of investments Ibrahim Al-Mubarak, and EU ambassadors to Bahrain, Oman, and Saudi Arabia Christophe Farnaud. According to an EU press release, the chamber will act as a forum to encourage trade and investment, facilitate business cooperation, and support the alignment of regulatory frameworks.

Creating the ECCKSA is an essential step towards bolstering economic relations between the EU and the Kingdom, in keeping with the strategic partnership between the EU and the Gulf Cooperation Council that was announced in May 2022.

According to Di Maio, the creation of the ECCKSA represents a significant new phase in the alliance between Saudi Arabia and the EU. I am convinced this endeavor will play a pivotal role in strengthening and uniting our economies. Without a doubt, Saudi businesses seeking partners and markets in the EU and European businesses conducting business in the Kingdom will turn to the ECCKSA as a reference point. Al-Mubarak emphasized the potential for new business opportunities in non-oil sectors created by integrating ECCKSA’s initiatives with Saudi Arabia’s Vision 2030.

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