European Chamber of Commerce opens in Riyadh

The European Chamber of Commerce in Saudi Arabia was inaugurated in Riyadh on Wednesday. (Supplied)
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Updated 08 May 2024
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European Chamber of Commerce opens in Riyadh

  • ECCKSA to strengthen trade, investment, and economic cooperation

RIYADH: The European Chamber of Commerce in Saudi Arabia was inaugurated in Riyadh on Wednesday.

The launch event was attended by distinguished guests, including Ibrahim Al-Mubarak, assistant minister of investment; Luigi Di Maio, EU special representative for the Gulf; and Christophe Farnaud, the EU ambassador to Saudi Arabia, Oman, and Bahrain.

The chamber will serve as a platform to facilitate business cooperation, promote trade and investment, and support the alignment of regulatory frameworks, according to a press release from the EU.

In line with the strategic partnership between the EU and the Gulf Cooperation Council announced in May 2022, the establishment of the ECCKSA is a significant step in strengthening economic ties between the EU and the Kingdom.

Di Maio said that the establishment of the ECCKSA marks an important new chapter in the partnership between the EU and Saudi Arabia.

“I am convinced that this initiative will be key in bringing closer and in integrating our economies. The ECCKSA will certainly become a point of reference for European companies doing business in the Kingdom and Saudi companies looking for partners and markets in the EU.

"It will facilitate joint ventures and boost trade and investments. There is so much untapped potential and space to grow in our economic cooperation and I am confident that the next months and years will bring about more substantive and sustainable progress,” Di Maio added.

Al-Mubarak highlighted the integration of ECCKSA’s initiatives with Saudi Arabia’s Vision 2030, creating the potential for new business opportunities in non-oil sectors.

“The launch of the European Chamber of Commerce in Saudi Arabia marks a pivotal milestone in the flourishing economic partnership between the Kingdom and the EU. With foreign direct investment stock from Europe nearly doubling to SR218.5 billion ($58.26 billion) over the past five years, the establishment of ECCKSA will unlock new horizons for cross-border trade, investment, and collaboration.

“The chamber will be a catalyst for fostering stronger ties between our business communities and supporting Saudi Arabia’s economic diversification journey under Vision 2030,” he added.

The event also featured a panel discussion, titled “ECCKSA: Shaping the Future of EU-KSA Business Collaboration,” where experts discussed strategies for deepening economic ties and explored new opportunities for partnership.

The panel included Leon Delvaux, acting director at the EU; Lama Alghrair, director of investor intelligence at the Ministry of Investment; Thomas Juergensen, head of trade and economic affairs for Saudi Arabia, Bahrain, Oman, and Qatar; and Lorcan Tyrrell, ECCKSA chairman. They collectively outlined the anticipated impact of ECCKSA on the European and Saudi business communities.

Also at the launch, ECCKSA’s license was formally handed over by the Ministry of Investment in Saudi Arabia.

Kristijonas Gedvilas, CEO of ECCKSA, said that the chamber is dedicated not only to strengthening economic ties, but also to building a vibrant business ecosystem that supports the shared vision.

“Our immediate focus will be on expanding our membership, engaging businesses actively, and providing them with invaluable resources and opportunities that foster growth and innovation across both regions,” he added.

ECCKSA aims to advance initiatives that support its members while contributing to the economic prosperity of both regions.


Saudi foreign minister praises China’s support for Gaza ceasefire efforts

Updated 46 min 37 sec ago
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Saudi foreign minister praises China’s support for Gaza ceasefire efforts

  • Prince Faisal reiterated calls for an immediate and permanent ceasefire in Gaza and an uninterrupted flow of aid into the enclave

BEIJING: Saudi Foreign Minister Prince Faisal bin Farhan on Thursday praised China’s support for efforts to end the war on Gaza and push for the two-state solution.

In his address at the China-Arab States Cooperation Forum in Beijing, Prince Faisal reiterated calls for an immediate and permanent ceasefire in Gaza and an uninterrupted flow of aid into the enclave.

He called for deeper cooperation to establish a reliable and irreversible path to the two-state solution, noting that constant dialogue is crucial for achieving regional peace.

He rejected foreign interference in the Middle East and called for efforts to prevent the spread of weapons of mass destruction in the region.

China hosted a summit on Thursday focusing on the Israel-Hamas war in which Chinese President Xi Jinping promised more humanitarian aid in Gaza and called for an international peace conference.

The summit, attended by heads of state from Egypt, the UAE, Bahrain and Tunisia among others, was set to address China’s expanding trade ties and security concerns related to the Israel-Hamas war.


KSrelief extends training, water, health projects in Yemen

Updated 30 May 2024
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KSrelief extends training, water, health projects in Yemen

RIYADH: The Kingdom’s aid agency KSrelief is extending its training, food and health projects for vulnerable people in Yemen, the Saudi Press Agency reported on Wednesday.

In Taiz and the Hadramout governorate, the agency launched a life-skills program for orphans and women, which including sewing, managing businesses, and maintaining mobile phones.

In Aden, KSrelief concluded a training program on community cohesion in cooperation with the UN Development Programme, covering peace committees, conflict resolution and mediation.

In addition, the aid agency distributed 634 food parcels to 4,438 individuals in Aden.

In Hodeidah, 2,600 personal hygiene bags were delivered to displaced people in the Al-Jisha and Bani Jaber camps.

KSrelief also signed a deal with a civil society organization in Taiz to dig a well in the area that would benefit 3,150 individuals.

In Socotra governorate, KSrelief signed a pact with a civil society organization to construct a tank that would supply clean water to villages.


Saudi Railways announces increased seating capacity of Haramain High-Speed Train for Hajj season

Updated 30 May 2024
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Saudi Railways announces increased seating capacity of Haramain High-Speed Train for Hajj season

RIYADH: Saudi Arabia Railways on Wednesday announced the readiness of the Haramain High-Speed Railway to receive pilgrims for this year’s Hajj season and said it has increased the number of available seats by about 100,000.

SAR revealed its operational plan for the season at its five stations linking Makkah to Madinah, bringing the total number of seats to 1.6 million, up from more than a 1.3 million seating capacity last year, the Saudi Press Agency reported.
The 453-kilometer railway passes through the main Jeddah station in the Sulaymaniyah district, King Abdulaziz Airport station in Jeddah, and King Abdullah Economic City. 
“This expansion also considers the addition of more than 430 new trips to last year’s trips, raising the number of trips scheduled in the operational plan for this year to more than 3,800” from May 9 to June 25, while the numbers of trips on peak days will be 126, SPA said.
The Haramain High-Speed Railway train ranks among the 10 fastest electric trains globally. It reaches 300 km per hour, and operates a fleet of 35 trains, with a capacity of 417 seats per train. It functions based on an environment-friendly system and zero carbon emissions, and plays an important role in preserving roads’ infrastructure by reducing road traffic.


Islamic Ministry unites volunteers to serve pilgrims

Updated 29 May 2024
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Islamic Ministry unites volunteers to serve pilgrims

  • The initiative is part of the ministry’s ongoing efforts to promote a culture of volunteering within communities

MAKKAH: Almost 5,000 people are set to volunteer for programs launched by the Makkah arm of the Saudi Ministry of Islamic Affairs, Dawah and Guidance, the Saudi Press Agency reported on Wednesday.

The branch has launched 247 opportunities via its volunteering platform to coincide with the start of the Hajj season. These include distributing more than 235,000 water bottles at 3,850 mosques, providing umbrellas to pilgrims for protection against the sun, distributing booklets and providing meals.

The initiative is part of the ministry’s ongoing efforts to promote a culture of volunteering within communities.

Earlier, the Presidency of Religious Affairs at the Grand Mosque and the Prophet’s Mosque launched its operational plan for Hajj, promoting voluntary and humanitarian work.

It recognizes the Two Holy Mosques as attractive environments for such efforts, based on religious and Saudi values that highlight the importance of generosity and hospitality.


Al-Jubeir meets US, Costa Rica officials in Riyadh

Updated 29 May 2024
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Al-Jubeir meets US, Costa Rica officials in Riyadh

Saudi Minister of State for Foreign Affairs and climate envoy Adel Al-Jubeir met Robert Karem, national security adviser to US Senator Mitch McConnell, on Wednesday in Riyadh.

In a separate meeting, Al-Jubeir met Costa Rica’s non-resident ambassador to the Kingdom, Francisco Chacon Hernandez.

The talks in both meetings centered on bilateral relations as well as regional and international issues of mutual interest.