Strengthening Saudi-French Economic Ties Through Business Forum

Yesterday, the Saudi-French Business Forum took place in Riyadh, bringing together influential business leaders and government officials from Saudi Arabia and France. Hosted by Majid Al-Kassabi, the Minister of Commerce, alongside Nicolas Forissier, the French Minister Delegate for Foreign Trade and Economic Attractiveness, this event is designed to bolster trade relations, explore innovative partnerships, and deepen economic collaboration between the two nations.

Al-Kassabi reiterated Saudi Arabia’s commitment to nurturing strong relations with France and outlined the Kingdom’s drive to expand joint economic opportunities in diverse sectors. “We aim to forge partnerships that will yield mutual benefits and stimulate sustainable growth in trade, investment, and technology,” he declared.

More than 230 prominent Saudi and French organizations attended the forum, representing a wide array of industries. The discussions highlighted key areas including smart cities, sports, culture, progressive technology, and manufacturing. This forum was also a venue for exchanging insights, forging strategic partnerships, and exploring cutting-edge business solutions.

The trade volume between Saudi Arabia and France has seen a steady increase, nearing $48 billion, illustrating a vibrant economic partnership. Saudi exports to France consist of machinery, household devices, mechanical tools, and aircraft, while France exports various machinery, appliances, and pharmaceuticals to Saudi Arabia. Between 2020 and 2024, trade between these nations surged at an average annual rate of 15.37%, highlighting the significance of their economic bond.

The forum also provided a platform for companies to delve into opportunities in emerging sectors such as renewable energy, digital innovation, and tech-driven industries. There was a mutual interest in establishing joint ventures, sharing technical knowledge, and investing in initiatives to diversify the Saudi economy and expand the French business footprint in the region.

Forissier complimented Saudi Arabia for its strides in creating a conducive business environment, noting the Kingdom’s forward-looking vision for economic advancement and cooperation. He emphasized that the forum is pivotal in fortifying connections between the two nations, fostering a better understanding in trade, investment, and technological innovation.

The Saudi-French Business Forum represents a strategic opportunity to cultivate enduring partnerships. It reveals the dedication of both countries to support global trade, enhance investment dynamics, and encourage innovation. By linking business leaders with government representatives, this forum aids in transforming high-level agreements into actionable projects, thereby strengthening the bilateral economic framework.