UK Deputy PM Dowden sets £30bn Saudi-UK 2030 bilateral trade goal

UK Deputy Prime Minister Oliver Dowden has underlined London’s goal of reaching £30 billion ($37.7 billion) of bilateral trade by 2030.

“The idea of this (GREAT Futures Conference) is to be a sort of shop window to show the opportunities for our two countries and then out of that, I think there’s huge opportunities for further trade and investment,” he said.

“We set an ambitious goal by 2030 of £30 billion of bilateral trade. It’s already growing quite rapidly. It’s about £17 billion. I think we can push it to that.”

The two-day conference from May 14, hosted at King Abdullah Financial District, features 47 sessions and workshops with 127 speakers from both the public and private sectors.

The conference aims to spark and strengthen Saudi-UK partnerships in 13 sectors such as tourism, culture, education, health, sports, investment, trade and financial services.

It welcomed 450 British delegates and company heads to meet with Saudi businesses and officials.

According to Dowden, “It’s based on very firm foundations, whether that’s diplomatic, military or the relationship, indeed, between His Majesty (King Charles III) and (Crown Prince Mohammed bin Salman) in the royal family of Saudi Arabia.”

Dowden says he that he thinks “the relationship between our two kingdoms is stronger than it’s ever been.


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