Saudi-US Trade and Investment Council reviews 31 initiatives to boost economic ties

The Saudi-US Trade and Investment Council (TIFA) held its regular meeting on Tuesday in Riyadh, attended by Abdulaziz bin Omar Al-Sukran, Deputy Governor for International Relations at the General Authority for Foreign Trade and head of the Saudi side, and Bryant Trick, Assistant US Trade Representative for Europe and the Middle East and head of the US side. The meeting followed up on initiatives from the council’s ninth session, which was held in January in Riyadh.

The meeting discussed 31 joint initiatives to support economic cooperation between Saudi Arabia and the United States. The Kingdom proposed 17 initiatives, while the US side presented 14, covering various economic sectors.

These initiatives aim to strengthen cooperation by reviewing trade and investment policies and supporting technical dialogue between relevant authorities in both countries.

Council objectives and areas of cooperation

The Saudi-US Trade and Investment Council, chaired by the General Authority for Foreign Trade, focuses on five main objectives: developing trade and investment policies; facilitating trade and addressing technical and regulatory barriers; supporting cooperation on sanitary and phytosanitary measures and agricultural products; enhancing intellectual property protection; and advancing digital trade, innovation, and emerging technologies.

The meeting was attended by representatives from several Saudi government entities, including the Ministry of Industry and Mineral Resources, Ministry of Economy and Planning, Saudi Food and Drug Authority, General Authority for Ports, Saudi Standards, Metrology and Quality Organization, Saudi Authority for Intellectual Property, Saudi Data and Artificial Intelligence Authority, Local Content and Government Procurement Authority, Zakat, Tax and Customs Authority, General Authority of Civil Aviation, National eLearning Center, National Center for Passenger Security, and the National Center for the Prevention and Control of Plant Pests and Animal Diseases.

Efforts by the General Authority for Foreign Trade

The General Authority for Foreign Trade works to develop bilateral trade relations through coordination councils and joint government committees. It also enables non-oil Saudi exports to access international markets and helps overcome related challenges.