GCC, Canada discuss strengthening ties across key sectors

Canadian Minister of International Development Ahmed Hussen and GCC Secretary General Jasem Al-Budaiwi. GCC
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Updated 07 January 2025
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GCC, Canada discuss strengthening ties across key sectors

  • Talks explored opportunities to deepen alliances, including in education and renewable energy
  • They also discussed pressing regional and international issues

RIYADH: The Gulf Cooperation Council and Canada have reaffirmed their commitment to strengthening international development and investment ties following high-level talks between officials.

On Jan. 6, GCC Secretary General Jasem Al-Budaiwi met with Canadian Minister of International Development Ahmed Hussen to discuss improving bilateral cooperation.

According to a statement from the GCC Secretariat, the talks explored opportunities to deepen alliances between the economic bloc and the North American country, including education and renewable energy.

Within the GCC, countries including Saudi Arabia are actively deepening their relations with Canada, as demonstrated by the restoration of diplomatic ties in May 2023 after a five-year hiatus.

The statement from the GCC Secretariat added that the Jan. 6 discussions also addressed pressing regional and international issues, highlighting the significance of dialogue and strategic partnerships in fostering security and global stability.

“At the conclusion of the meeting, both sides reaffirmed the significance of joint cooperation to enhance sustainable development efforts at both regional and global levels, contributing to greater stability in the region and beyond,” the statement said.

At the end of December, Saudi Arabia’s Minister of Economy and Planning Faisal Al-Ibrahim held talks with Canadian Ambassador Jean-Philippe Linteau at his department’s headquarters in Riyadh, according to the Saudi Press Agency.  

Economic cooperation was the focus of the meeting as relations between the nations continue to progress.


Saudi POS spending opens 2026 with a 31% surge: SAMA 

Updated 09 January 2026
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Saudi POS spending opens 2026 with a 31% surge: SAMA 

RIYADH: Saudi Arabia’s total point-of-sale transactions reached SR17 billion ($4.5 billion) in the week ending Jan. 3, with all sectors recording positive weekly growth. 

According to the latest data from the Saudi Central Bank, the total POS value represented a 30.6 percent week-on-week increase, while the number of transactions rose 15.7 percent to 255.36 million. 

Spending on freight transport, postal and courier services recorded the sharpest increase, surging 110.9 percent to SR74.22 million, followed by education, which rose 66.4 percent to SR235.51 million. 

Expenditure on personal care increased by 31.7 percent, while spending on books and stationery rose 36 percent. Jewelry outlays climbed 48 percent to SR544.12 million. 

Further gains were recorded across other categories. Spending at pharmacies on medical supplies rose 42.1 percent to SR284.81 million, while expenditure on medical services increased 20.8 percent to SR556.27 million. 

The food and beverages sector saw outlays rise 41.4 percent to SR2.7 billion, accounting for the largest share of POS transactions.

Restaurants and cafes followed with a 20.9 percent increase to SR1.9 billion, while apparel and clothing spending rose 30 percent to SR1.6 billion, ranking third. 

Together, the top three categories accounted for approximately 36.53 percent of total POS spending, or SR6.22 billion. 

Saudi Arabia’s major urban centers mirrored the national surge.

Riyadh, which accounted for the largest share of POS spending, saw a 21 percent increase to SR5.61 billion, up from SR4.63 billion the previous week.

The number of transactions in the capital rose 12.2 percent to 79.6 million. 

In Jeddah, transaction values increased 25.6 percent to SR2.24 billion, while Dammam posted a 26.1 percent rise to SR831.93 million. 

POS data, tracked weekly by SAMA, provides an indicator of consumer spending trends and the ongoing growth of digital payments in Saudi Arabia. 

The data also highlights the expanding reach of POS infrastructure, extending beyond major retail hubs to smaller cities and service sectors, supporting broader digital inclusion initiatives. 

The growth of digital payment technologies aligns with Saudi Arabia’s Vision 2030 objectives, promoting electronic transactions and contributing to the Kingdom’s broader digital economy.