Oliver Dowden Aims for £30 Billion Trade with Saudi Arabia by 2030

The UK Deputy Prime Minister, Oliver Dowden, has set a bold target of achieving £30 billion in bilateral trade with Saudi Arabia by 2030. This announcement was made during the GREAT Futures Conference held at the prestigious King Abdullah Financial District. The primary objective of the conference was to strengthen partnerships between the UK and Saudi Arabia across various sectors including tourism, culture, education, health, sports, investment, trade, and financial services.

The event, which spanned two days and featured 127 speakers from both public and private sectors, included 47 sessions and workshops. Dowden highlighted the deepening relationship between the two nations, emphasizing the strong foundations laid in diplomatic, military, and royal family ties.

Looking towards the future, Dowden expressed optimism about the potential opportunities that lie ahead, especially in alignment with Saudi Arabia's Vision 2030. He pointed out the significant investments already made by Saudi Arabia in North East England, amounting to £3 billion and creating 2,000 jobs, showcasing the promising prospects for further collaboration.

Discussions during the conference revolved around technology and artificial intelligence collaborations between the UK and Saudi Arabia. Dowden underscored the importance of British companies familiarizing themselves with Saudi business regulations and incentives to ensure smoother business operations within the Kingdom.

The GREAT Futures Conference served as a platform to strengthen the ties between the UK and Saudi Arabia, paving the way for enhanced cooperation across various sectors. With ambitious trade targets and a shared vision for the future, both nations are poised to capitalize on the opportunities that lie ahead, fostering mutual growth and prosperity.