Riyadh
The European Union Ambassador in Riyadh, Christophe Varreno, stated that the full variety of firms within the European Union nations working in Saudi Arabia has exceeded 2,500 firms, lively in varied fields that embrace power, manufacturing, transportation, infrastructure, digital transformation, inexperienced applied sciences, and logistical companies.
Varreno stated in statements to Al -Eqtisadiah, that financial cooperation between Saudi Arabia and the nations of the Union is witnessing an rising growth, particularly within the inexperienced power, mineral and digital sectors, stressing that these areas characterize main pillars of the longer term partnership between the 2 sides.
Varreno added that the European Union is the second industrial accomplice of the Kingdom, with a mutual commerce dimension of 70 billion euros in 2024, with a restricted surplus in favor of the Union of solely 3 billion euros, and bilateral commerce elevated by 13 billion euros in the course of the previous decade, with important potentials that aren’t exploited for the free commerce settlement.
He identified that the European Union is classed as the biggest investor in Saudi Arabia, valued at 29% of the full international funding stability.
