The Eighth Saudi-US Trade and Investment Council meeting (TIFA), held in Washington last Friday, placed significant emphasis on tourism and the Saudi Green Initiative, alongside other key topics.
Chaired by Deputy Governor of the Authority for International Relations Abdulaziz Al Sakran and Assistant United States Trade Representative (AUSTR) for Europe and the Middle East Bryant Trick, the meeting saw participation from both government and private sector entities from Saudi Arabia and the United States.
Key discussions focused on promoting bilateral trade and addressing trade constraints, policies, and technical regulations. The review also covered procedures for sanitary and phytosanitary measures in agricultural, food, and pharmaceutical products, intellectual property rights policies and legislation, e-commerce, and trade and investment cooperation.
A roundtable on the sidelines of the meeting, which included the Saudi and American private sectors, highlighted promoting bilateral trade and investment in major sectors, including tourism. The session 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. Moreover, trade and investment opportunities within the Saudi Green and Middle East Green Initiatives were discussed extensively, underlining the Kingdom’s commitment to sustainable development.
The session 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.
The Saudi delegation engaged in various meetings and workshops, such as “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.
Additionally, the delegation participated 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.
Representatives from numerous Saudi ministries and organizations attended, including 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.
This comprehensive engagement underscores Saudi Arabia’s commitment to fostering robust trade relationships and driving forward its Vision 2030 objectives, particularly in tourism and sustainable development.
