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Mon. Jul 15th, 2024

The 8th Saudi-US Trade and Investment Council meeting (TIFA) was held in Washington on Friday.

The meeting was chaired by Deputy Governor of the Authority for International Relations Abdulaziz Al Sakran and the Assistant United States Trade Representative (AUSTR) for Europe and the Middle East Bryant Trick, with the participation of government and private sector entities from both sides.

The meeting discussed ways to promote bilateral trade and resolve its constraints, trade policies, and technical regulations for international trade. It also reviewed procedures for the application of sanitary and phytosanitary measures in agricultural, food, and pharmaceutical products, intellectual property rights policies and legislation, e-commerce, trade and investment cooperation, and the exchange of experiences.

On the sidelines of the meeting, a roundtable with the Saudi and American private sector focused on promoting bilateral trade and investment in major sectors of the Kingdom. It also addressed challenges and obstacles facing the private sector in trade and investment, empowering SME partnerships, strengthening SMEs’ business capacities, and fostering cooperation in innovation, technology, and localization. Additionally, trade and investment opportunities in the Saudi Green and Middle East Green Initiatives were discussed, along with various other bilateral themes.

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

The delegation also took part in the fifth GCC-US Trade and Investment Dialogue, a discussion session titled “Invest Saudi in Tech,” the United States-Saudi Forum “Investing in Our Shared Future,” the GCC-US Roundtable meeting, and the Saudi-US Roundtable meeting with private sector participation from 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.

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