RIYADH: A high-level roundtable consultation on sustainable business was held on Tuesday in Riyadh to explore collaboration between the EU and Saudi Arabia’s private sectors.

Leading companies from both the EU and the Kingdom attended the event to discuss objectives and challenges.

Dubravka Suica, European commissioner in charge of EU relations with the Mediterranean and the Gulf, was in attendance. The meeting was held under the auspices of the Delegation of the European Union to the Kingdom of Saudi Arabia and was organized by the EU–GCC Cooperation on Green Transition Project in collaboration with the European Chamber of Commerce in Saudi Arabia.

The meeting brought together senior representatives from leading companies active in the circular economy, water technologies, clean energy, sustainable manufacturing, environmental innovation, and advanced materials, including Danfoss and ACWA Power.

Suica told Arab News that the EU is ready to seize future opportunities across various sectors, given Europe’s rich history of green development.

“All our pipelines (are) hydrogen-ready, which means gas pipelines, new modern gas pipelines, were built to be also hydrogen-ready. So, they can also be useful for the supply of hydrogen,” she said.

She added: “The only problem is that we are a market economy … We cannot guarantee anything because it is as it is, as you know.”

When asked about the EU plan to support European companies seeking to participate in sustainability-related projects, the commissioner commented that “EU Green Deal is something which we would like to make happen by 2050 to have Europe as a CO2-neutral continent.”

Presently, however, simplifying the process is a strategy that would benefit both sides of the equation, she added.

“There is a lot of burden to our companies and to your companies who want to work in Europe … We are now trying not to deregulate. We cannot do it, but we are trying a little bit to simplify,” Suica told Arab News.

During the meeting, participants discussed essential opportunities for collaboration in investment and technology deployment, reflecting serious intentions from both sides to support joint initiatives across the region.

Suica also highlighted the relevance of the Pact for the Mediterranean, launched in Barcelona last month, emphasizing its role in opening additional avenues for companies to expand further across the Middle East and North Africa region.

“Today’s consultation reaffirms our shared commitment to accelerating the green transition through meaningful partnerships between EU and Saudi companies, connecting our regions and bringing our peoples closer,” said Suica.

“The EU and the Kingdom of Saudi Arabia are committed to stepping up our partnership.

“Under the EU–Saudi Arabia Strategic Partnership Agreement and the Pact for the Mediterranean, we will have a broader regional framework to expand cooperation between EU and Saudi companies across the Middle East and North Africa.

“I am encouraged by the strong engagement we have seen today.”

Christophe Farnaud, ambassador of the EU to Saudi Arabia, Bahrain, and Oman, also commented on the subject during the meeting and supported the partnership talks.

He said: “Saudi Arabia and Europe are charting a new path for global cooperation in sustainable development. By bringing together leading companies from both sides, we aim to transform strategic dialogue into tangible opportunities that support innovation, diversification, and long-term sustainable growth.”