CSC Delegation in Saudi-Portuguese Economic Forum in Lisbon

12/10/2017

A delegation representing the Council of Saudi Chambers (CSC), led by Eng. Osama Al Kurdi, participated in the Portuguese Economic Forum, held in Lisbon concurrently with the Saudi-Portuguese Joint Committee meeting.

The forum, which was opened by Saudi Minister of Commerce and Investment Dr. Majed Al Gasabi and Portuguese Minister of Economy Manuel Caldeira Cabral, included participation from a wide variety of leading Saudi and Portuguese organizations. It discussed prospects of trade and investment cooperation between the two countries, and the expected role of the business communities in both countries in fostering these relations.

Dr. Al Qasabi mentioned during his address the plans of Saudi Arabia’s economy post-Saudi Vision 2030 whose programs should incentivize portuguese investors to enter the Saudi market, while Mr. Cabral described the event as an important platform to foster economic relations between the two countries.

For his part, President of Portugal’s Federation of Business Associations, Antonio Sarviva, stressed the importance of the forum in building fruitful partnerships between Saudi and Portuguese investors, and in turn, fostering bilateral investments.

Head of the Saudi delegation, Eng. Al Kurdi, gave a presentation on the Saudi Vision 2030 and the opportunities it offers in various sectors, including retail, e-commerce, technology, communications, renewable energy, tourism, entertainment, financial services, mining, transportation, healthcare, and engineering services, among others. While the Portuguese side gave a presentation on the investment opportunities in their country.

Al Kurdi stated that the forum was a big success, and resulted in recommendations that can lead to more robust relations in the near future. He added that KSA is a main partner to Portugal in the region, and urged for enhancing cooperation between the Saudi and Portuguese business sectors, especially in agriculture, tourism, energy, constructions, foodstuffs, and information technology.

To implement the recommendations of the forum, the two sides agreed on creating a joint taskforce to develop an executive working plan for 2018. The Portuguese side additionally suggested creating a Saudi-Portuguese Business Forum to further foster trade and investment cooperation between the business communities in the two countries.
The Saudi delegation’s program included meetings and field trips to a number of Portuguese companies to review their experience and seek cooperation opportunities with them.

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