Business · Trade · 10 hrs ago
Saudi and US business groups sign trade and investment agreement
Saudi and US business groups signed a cooperation agreement in Washington during the B20 Summit.
The Federation of Saudi Chambers and the US Chamber of Commerce said the memorandum aims to expand trade and investment opportunities between the two countries.
The agreement was signed at a session on Saudi-US innovation attended by officials and business representatives.
The partnership already covers traditional industries and newer fields, including artificial intelligence, digital technology, advanced manufacturing and infrastructure.
Saudi officials said the Public Investment Fund has invested about $170 billion in the US since 2017 and called for continued cooperation.
Saudi Arabia has also made more than 1,000 economic reforms over the past decade to improve its business environment and help attract international investors.
The groups aim to build further cooperation in future-focused sectors, while the B20 Summit in Washington runs through Nov.
11 and addresses trade, investment, growth and innovation.
The Federation of Saudi Chambers and the US Chamber of Commerce signed a memorandum of understanding to strengthen trade and investment cooperation.
The agreement aims to expand collaboration between the business sectors of Saudi Arabia and the US.
It was signed during the B20 Summit in Washington, D.C.
The signing took place at a session titled “Saudi-US Innovation: From Vision to Value.”
The summit brought business and international economic leaders together to discuss economic growth, trade, investment and innovation.
- Who
- The Federation of Saudi Chambers and the US Chamber of Commerce.
- What
- They signed a memorandum of understanding to strengthen trade and investment cooperation.
- When
- During the B20 Summit, held from Nov. 9 to 11.
- Where
- Washington, D.C.
- Why
- To expand collaborative opportunities between the business sectors of Saudi Arabia and the US.
This story does not have two clearly opposing sides.
The B20 Summit was held in Washington, D.C.
The Federation of Saudi Chambers and the US Chamber of Commerce signed a memorandum of understanding.
- Signatories
- Federation of Saudi Chambers and US Chamber of Commerce
- Agreement
- Memorandum of understanding on trade and investment cooperation
- Summit location
- Washington, D.C.
- Summit dates
- Nov. 9–11