The longtime partnership between US and Saudi Arabia is being discussed at the ongoing Saudi-US Business Opportunities Forum, which opened in Riyadh today (March 22).

 

It seeks to deepen mutual relations, build new alliances and partnerships, and open up new, as-yet-unexplored areas for co-operation, all of which are set to reinforce the Saudi economy's ongoing transformation and contribute to its diversification and prosperity, said a statement.

 

Turki AlToaimi, advisor and director general of Marketing and Communication at the Ministry and chief director of the forum's organising committee, stated that the importance of the event reflects the strength of the ties that bind the kingdom and the US, one of the world's strongest alliances. 

 

It also highlights everything that is important for the prosperity of the kingdom, the wellbeing of Saudis, and the sustained development of the national economy.

 

The selection of Riyadh this time round, after all previous forums were held in US cities, goes to show just how important the Saudi market is to investors and the business communities of both countries, said AlToaimi.

 

It also is an unequivocal indicator of just how favorable this partnership is politically and economically, given that the two countries' relationship built on mutual interests, he said.

 

 

As the two nations strive for mutual relations based on US-bound Saudi oil exports and Saudi-bound, US-produced consumables, food, and arms, the Saudi-US partnership will continue to grow, prosper, and stay abreast with ever-shifting market trends. 

 

The two nations are committed to taking their relationship to the next level by shifting its basis towards creating more jobs in both countries, and greater cooperation in various economic and business fields, especially those that concern technological co-operation, the training of manpower, and reciprocal investments, given the unrivaled competitiveness of the US corporate community in various fields of the new economy, such as biotechnology, health care services and their management, information technology, transportation, conventional and alternative energy, and automotive manufacturing.

 

"The holding of the forum comes as part of a shared quest to strengthen ties and enhance the exchange of trade, knowledge and cultures between the two nations," said AlToaimi. 

 

"The two sides know full well that a successful partnership should not be based solely on business and trade, but must be taken beyond mere economics towards building solid ties between the two friendly nations, and should encompass education, tourism, professional exchange, arts, food, and all facets of human interaction.

 

"Hence, the forum is scheduled to witness signings of a multitude of new mutual agreements that will usher in a new era for the two countries' relations, which, in turn, will contribute to bolstering mutual empathy and compassion between the two nations and transcend the level of respect and appreciation they have for each other's cultures and heritages, thus boosting their capability to meet all current and future challenges for a brighter future for all," he added. - TradeArabia News Service