Day: June 23, 2024

Washington: The General Authority of Foreign Trade (GAFT) led the Kingdom of Saudi Arabia’s delegation at the eighth meeting of the Saudi-US Trade and Investment Framework Agreement (TIFA) Council in the United States, held between June 23 and 28, 2024, in Washington. The delegation was headed by Deputy Governor of GAFT for International Relations Abdulaziz bin Omar Al-Sukran, with the participation of 20 government entities.

The council aims to monitor trade and investment relations to identify opportunities for expanding trade and investment, work on removing barriers to trade and investment flows, enhance a promising trade and investment environment, and foster economic development between the two countries.

The council addresses trade and investment issues between the two countries, facilitates market access, protects and enforces intellectual property rights, handles data and e-commerce, builds capacities, and reviews trade and investment policies.

On the sidelines of the meeting, the Saudi delegation
is scheduled to participate in several meetings and workshops, including a workshop titled “Trade Opportunities between the Middle East and the United States,” with the participation of U.S. ambassadors in Gulf countries, and the opening session of the Select USA Investment Summit, chaired by U.S. Secretary of Commerce Gina Raimondo.

The delegation will also take part in the fifth GCC-U.S. Trade and Investment Dialogue Forum, a panel discussion titled “Saudi Investment in Technology,” the U.S.-Saudi Forum titled “Investing in Our Shared Future,” the GCC-U.S. Roundtable, and the Saudi-U.S. Roundtable, with the participation of the private sector from both sides.

The trade exchange volume between Saudi Arabia and the United States in 2023 amounted to some $34 billion, with mineral products and fertilizers being the most prominent Saudi exports to the United States, while machinery, mechanical appliances and spare parts, and automobiles and spare parts were the top U.S. imports.

Source: Saudi Press Agency

Riyadh: Saudi Arabia announced the official Approved Destination Status (ADS), effective July 1st, following its participation in the second China roadshow and ITB China in Shanghai. This move underscores Saudi Arabia’s commitment to becoming a strategic economic partner with China, unlocking new opportunities across the tourism sector and fostering mutual understanding, friendship, and economic development for both nations.

The ADS designation marks a significant milestone for group travel to Saudi Arabia. As the Kingdom aims to make China its third largest source market for international arrivals by 2030, Saudi Arabia has proactively prepared to be “China-ready”. This includes significantly increasing direct flights since 2023, introducing tailored products, and forming strategic partnerships to enhance group and Flexible Independent Travel (FIT) experiences.

Saudi Minister of Tourism Ahmed Al-Khateeb remarked, ‘The official ADS status demonstrates Saudi Arabia’s readiness for Chinese visitors and our pro
gress toward making China our third largest tourism market by 2030. The Saudi Tourism Authority has played a crucial role in visa facilitation, reduced fees, improving air connectivity, and ensuring destination readiness with Mandarin-language information available on www.visitsaudi.cn, Mandarin signage at airports, and Mandarin-speaking tour guides and hotel staff.’

Abdulrahman Ahmad Al-Harbi, Saudi Arabia’s Ambassador to China, emphasized, “By strengthening bilateral ties with China, the ADS agreement opens doors for economic development across sectors, benefiting both nations.”

CEO of Saudi Tourism Authority Fahd Hamidaddin added, ‘Saudi’s approval as a tourist destination for Chinese visitors reflects our continuous efforts and participation in trade shows and conferences, leading to agreements with Chinese organizations. We strive to provide a seamless, enjoyable, and safe experience for Chinese tourists, including streamlined visa procedures, increased flight capacity, and Mandarin integration across
airports, destinations, tourist sites, and digital platforms like the ‘Visit Saudi’ website. Partnerships with trusted Chinese brands such as UnionPay, Trip.com, Huawei, and Tencent further enhance our offerings.’

Saudi Arabia aims to attract five million Chinese tourists by 2030, enhancing connectivity with new direct flights by Air China, China Eastern, and China Southern, in addition to existing Saudia flights. These initiatives represent a 130% increase in inbound seat capacity, doubling weekly flight frequency compared to a year ago.

Source: Saudi Press Agency

Jeddah: The Vice President of the Republic of Gambia, Mohammad Jallow, left Jeddah today after performing] Hajj rituals.

He was seen off at King Abdulaziz International Airport by Jeddah Governor Prince Saud bin Abdullah bin Jalawi and other senior officials.

Source: Saudi Press Agency

Tirana: The Speaker of the Saudi Shura Council, Sheikh Dr. Abdullah bin Mohammed bin Ibrahim Al Al-Sheikh, the head of the council delegation, arrived today in the Republic of Albania at the beginning of an official visit in response to an invitation received from Albania Parliament Speaker Lindita Nikola.

Sheikh Dr. Al Al-Sheikh was received upon his arrival at Tirana International Airport by the Chairman of the Albanian-Saudi Friendship Committee, Clevis Goji, the Saudi Ambassador to Albania, Faisal bin Ghazi Hifzi, the Ambassador of Albania to the Kingdom of Saudi Arabia, Saimir Bala, and several other representatives and officials.

Source: Saudi Press Agency