Leading corporations from both the United Kingdom and Saudi Arabia are aligning at the UK-Saudi Sustainable Infrastructure Summit in London from June 24 to June 26.
As per the details disclosed to a regional newspaper, the Federation of Saudi Chambers is geared up to gather a significant ensemble of businesses focused on sustainable infrastructure to discuss potential collaborations with the UK in the realms of eco-friendly construction, intelligent urban design, and cutting-edge technologies.
Key themes at the summit will revolve around the pivotal role of Saudi-British collaboration in fostering and funding sustainable infrastructure, urban development, as well as initiatives in green technology and renewable energy.
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The summit proceedings will transition into a sectoral working group meeting on June 25 and a celebratory event in the evening to mark a decade of the British-Saudi Business Council. Furthermore, the Sports Investment Forum is slated to take place on June 26.
Bilateral trade between the two nations has burgeoned, surpassing the 17 billion-pound mark ($21 billion), with ambitions to propel this figure to $37.5 billion by the year 2030.
A precursor to this summit was the Great Futures conference held in Riyadh in May, an initiative under the Saudi-British Strategic Partnership Council helmed by Saudi Crown Prince Mohammed bin Salman and UK Prime Minister Rishi Sunak. The conference’s agenda was to amplify economic ties in various burgeoning sectors and to enrich trade and investment reciprocity.
The conference unveiled a roadmap of 60 initiatives across 13 sectors designed to bolster economic, trade and investment cooperation in a comprehensive suite of fields.
The Saudi Minister of Commerce Dr. Majid Al-Qasabi, speaking at the May event, highlighted the UK’s status as the world’s second-largest service exporter and underscored Saudi Arabia’s immense potential and determination to diversify its economy.
He emphasized that the synergy between the two kingdoms spans a diverse array of domains, including commerce, finance, digital technology, culture, education, health, as well as sports, tourism, and entertainment.