Trump’s visit ‘to boost Riyadh-Washington bilateral trade’
RIYADH: The US-Saudi Arabian Business Council (USSABC) has predicted that the upcoming visit by US President Donald Trump to Saudi Arabia this weekend will further boost the existing bilateral trade relations between the two countries.
Abdallah bin Saleh bin Jum’ah, Saudi chairman of the board of directors of the council, described the visit as “historic” and one that reflects the political and economic weight of the Kingdom internationally.
He added that the visit carries many important messages, as it is the first visit abroad by Trump after he assumed his presidency, and is expected to constitute new breakthroughs in strengthening economic relations and develop- ing trade exchanges between the two friendly countries.
Jum’ah said the visit emphasizes the Kingdom’s prominent position and leadership in the Islamic world, as well as its great economic impact and outstanding contributions to international efforts that aim at stabilizing the global economy.
The chairman said bilateral trade and industrial investments between the two countries are on the rise, noting that the Kingdom ranks 12th in the list of US trading partners, while the US ranks second among KSA’s largest trading partners. They have maintained growing economic relations during periods of economic prosperity and international economic recession alike.
Jum’ah expects Saudi-US economic relations to witness an unprecedented shift in the coming years, in recognition of the many new gains that the Kingdom’s strategic Vision 2030 and National Transformation Program (NTP) 2020 have generated.
With its 250 members made up of leading Saudi and American companies, the USSABC was founded in 1993 and aims to develop cooperation and joint economic actions between Saudi Arabia and the US.