Saudi-US Council Meeting Aims to Improve Collaboration in Trade and Investment

Washington hosted the eighth meeting of the Saudi-US Trade and Investment Council (TIFA) on Friday.

The Assistant United States Trade Representative (AUSTR) for Europe and the Middle East, Bryant Trick, and the Deputy Governor of the Authority for International Relations, Abdulaziz Al Sakran, presided over the meeting, which was attended by representatives of both the public and commercial sectors.

Trade policies, technical regulations for international trade, and strategies for promoting bilateral trade were all discussed at the meeting. Along with intellectual property laws and policies, e-commerce, trade, and investment cooperation, the application of sanitary and phytosanitary measures to agricultural, food, and pharmaceutical products, and experience sharing were all covered.

A roundtable with the American and Saudi private sectors was held on the fringes of the conference with the aim of advancing bilateral investment and trade in the Kingdom’s key industries. The challenges and barriers that the private sector faces in trade and investment were also covered, along with ways to empower SME partnerships, bolster SMEs’ ability to conduct business, and promote collaboration in the areas of innovation, technology, and localization. Along with several other bilateral themes, trade and investment opportunities in the Saudi Green and Middle East Green Initiatives were also discussed.

The US Secretary of Commerce Gina Raimondo chaired the Opening Session of the SelectUSA Investment Summit, which the Saudi delegation attended. Other meetings and workshops included “Middle East and USA: Investments & Opportunities” with American ambassadors in the Gulf region.

The delegation additionally participated in the fifth GCC-US Trade and Investment Dialogue, the United States-Saudi Forum “Investing in Our Shared Future,” the GCC-US Roundtable meeting, and the Saudi-US Roundtable meeting with participation from the private sector on both sides.

The delegation included representatives from the Ministry of Commerce, Ministry of Energy, Ministry of Investment, Ministry of Environment, Water and Agriculture, Ministry of Education, Ministry of Tourism, Ministry of Economy and Planning, Ministry of Communications and Information Technology, Ministry of Industry and Mineral Resources, Ministry of Human Resources and Social Development, General Authority for Foreign Trade, Saudi Food and Drug Authority, Small and Medium Enterprises General Authority, General Authority for Military Industries, Saudi Standards, Metrology, and Quality Organization, Saudi Authority for Intellectual Property, Saudi Data and Artificial Intelligence Authority, Zakat, Tax and Customs Authority, Research, Development, and Innovation Authority, Public Investment Fund, Saudi Green Initiative, Federation of Saudi Chambers, US-Saudi Business Council, National Center for Vegetation Cover Development and Combating Desertification, and many interested Saudi companies.