Council of Saudi Chambers looking opportunities for cooperation in the telecommunications sector and information technology and banking services with U.S. delegation

The Council of Saudi Chambers hosted on Monday, 19/04/2010 a high-ranking U.S. trade delegation includes major American companies headed by William Cohen, former U.S. Defense Secretary, in the framework of the visit by the U.S. delegation to the Kingdom during these days  to have meetings with business owners in Saudi Arabia to discuss aspects of cooperation in a number of trade areas.
The U.S. delegation  were having discussions with the Saudi businessmen in the Council Chambers to about aspects of trade and investment cooperation between the two countries in the field of telecommunications, information technology, banking, energy and water desalination projects, but the attention has been focused largely on the telecommunications, information technology, banking services where the two sides emphasized on the represented by two sectors of great investment opportunities.
The deputy chairman of the Council of Saudi Chambers Abdul-Rahman Jeraisy said, the United States is one of the most important trading partners of the Kingdom, stressing the importance of the role of the business sectors in both countries to push efforts to strengthen economic relations, and pointed to the sheer size of the Kingdom market as the largest market in the Middle East enjoyed by the Kingdom of the economic environment and unique investment and is not affected by the global financial crisis as a result of economic and financial policies pursued by the wise in the Kingdom under the leadership and directives of the Custodian of the Two Holy mosques, King Abdullah. The Jeraisy said that a Saudi Arabian official will travel in two weeks to Chicago for a Saudi-American Business Forum where the Kingdom will present to the  American side, a number of investment opportunities.  the signing of cooperation agreements between the two sides Saudi Arabia and the U.S. in a number of areas is expected to be through this forum.
For his part, William Cohen, former U.S. Defense Secretary and Chairman of the U.S. delegation, stressed on the depth and durability of the economic relations between the two countries and represent the Kingdom of economic power as a result of follow wise economic policies, and pointed to a touch of positive changes with regard to investment environment encouraging in terms of laws and regulations, explaining that the purpose of the visit is to discuss ways of strengthening cooperation between the business sectors in the United States and the Kingdom of identifying the constraints faced by businessmen in both countries and work to find solutions in close cooperation with the concerned authorities in both countries.
He said that the United States Embassy in the Kingdom has made great efforts to facilitate the procedures for Saudi visas in an effort to create conditions to support and develop bilateral relations. And comment on the Declaration of The Custodian of the Two Holy Mosques, two days before the establishment of King Abdullah of atomic and renewable energies> Cohen said that such projects serve not Saudi Arabia but also the region, particularly neighboring countries, noting the attention that the world of the importance of the issue of alternative energy and the availability of new sources of energy and what it means so as to preserve the environment is a global trend have been working on all of the world. He said that he should work to find new areas of cooperation between the Kingdom and the United States and understand the correct ways to develop bilateral relations expected that the coming period would witness further cooperation and projects in light of the common desire of both sides at various levels.
The U.S. ambassador to the Kingdom  sent his thanks to the Council of Saudi Chambers for holding this meeting and said that the common challenges of the two countries imposed on them to strengthen their relations in the economic sphere more than ever before.
With regard to the issues raised by some businessmen on the subject of visas and the difficulties faced by the Saudis to get a visa to enter the United States said the American ambassador that the period of the visa issuing varies according to different mechanisms followed by the embassy from  two weeks to two months maximum.
The participants heard at the meeting for a presentation on telecommunications and information technology in the Kingdom and are available in this sector of the investment opportunities and its own comparative advantages, in addition to another offer and the financial services sector in the United States of America, with a view to identifying investment opportunities and areas of cooperation available in these sectors.
The program of the meeting include an open dialogue between the representatives of Saudi companies and the U.S. , where the two sides identified  the nature and areas of work of the companies participating in the meeting and opportunities for cooperation and partnership that can be held between the two sides.

To be mentioned that the Saudi Chambers Council attached great importance to the promotion of the Kingdom's relations business with the United States of America as one of the largest and most important trading partners of the Kingdom, where the council had  implemented during the past years, many activities in support of economic relations with most of the economic partners of the actors in the global economic scene including the United States of America contributed to such activities are clearly in the provision of appropriate opportunities to grow and strengthen relations of trade and investment cooperation between the two countries.
 The Council has recently won the award for International Trade in 2010 provided by the U.S. Department of Commerce in recognition for its efforts in support of the Saudi-American economic relations.
States that the volume of trade exchange between Saudi Arabia and the United States reached about 193.3 billion riyals in 2008 and a recent report predicted that exports would increase direct U.S. to Saudi Arabia to up to 63 billion riyals (17 billion dollars) this year in 2010.