KSA: US-Saudi trade at USD 41 bil. in 2006 — official

Click here: Zawya.com – US-Saudi trade at USD 41 bil. in 2006 — official

Trade exchange between Saudi Arabia and the US witnessed quite a hike during the past four years, said a Saudi official on Saturday. While receiving a US trade delegation, Secretary-General Riyadh Chamber of Commerce and Industry Husain Al-Azal said trade exchange between the two nations had exceeded 157 billion Saudi Riyals (USD 41.86 billion) in 2006, versus SAR 86.2 billion (USD 23 billion) in 2003.

The US tops the top 10 list of exporters to Saudi Arabia and it is considered the world’s second biggest market for Saudi products, said Al-Azal. He added that in 2006, Saudi exports to the US reached SAR 119.24 billion (USD 31.79 billion) and US exports to Saudi Arabia reached SAR 37.8 billion (USD 10.8 billion). Al-Azal hoped to further boost Saudi-US commercial, investment and economic ties, considering the delegation’s visit an opportunity to present advantages of foreign investments in Saudi Arabia. On his part, the delegation’s head Peter O’Neill lauded Saudi’s investment environment that gave good opportunities to US businessmen through cooperating with Saudi counterparts.

Advertisements

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: