The Saudi-Swedish Joint Committee held its third session in Riyadh from November 4 to 5, co-chaired by Deputy Governor for International Relations at the Saudi General Authority of Foreign Trade (GAFT) and head of the Saudi delegation Abdulaziz bin Omar Al-Sakran and Director General of Trade at the Swedish Ministry for Foreign Affairs and head of the Swedish delegation Camilla Mellander.
The joint committee agreed to implement 45 initiatives between the two countries following discussions that addressed challenges and obstacles to bilateral trade and ways to improve cooperation in the areas of trade, investment, economy, energy, technology, industry, education, health, tourism, and sports.
Al-Sakran emphasized the Kingdom of Saudi Arabia's commitment to strengthening its trade relations with partners and highlighted the determination of both countries to enhance collaboration across various fields.
He noted the importance of overcoming obstacles that may hinder the flow of investment and trade between Saudi Arabia and Sweden.
The Saudi-Swedish Joint Committee, established in 2017, holds periodic meetings every two years to enhance ties between the Kingdom of Saudi Arabia and the Kingdom of Sweden in different sectors, promoting trade relations and addressing common challenges.
In 2023, the trade volume between Saudi Arabia and Sweden reached approximately $1.7 billion. The main Saudi exports included plastics and their products, machinery, and mechanical appliances and parts, while key Swedish imports consisted of iron and steel products as well as pharmaceuticals.
GAFT aims to enhance and maximize Saudi Arabia's international trade benefits and safeguard its interests in foreign trade, contributing to the development of the national economy.