The 8th Saudi-US Trade & Investment Council Meeting

The 8th Saudi-US Trade and Investment Council meeting (TIFA) was held in Washington, on Friday, June 28, 2024, chaired by Deputy Governor of the Authority for International Relations Abdulaziz Alsakran and the Assistant United States Trade Representative (AUSTR) for Europe and the Middle East Bryant Trick, With the participation of government and private sector entities in both sides.

The meeting discussed ways to promote bilateral trade and resolve its constraints, trade policies, reviewing technical regulations for international trade, procedures for the application of sanitary and phytosanitary measures in agricultural, food and pharmaceutical products, intellectual property rights policies and legislation, e-commerce, trade and investment cooperation and exchange of experiences.

On the sidelines of the eighth meeting of the Council, the roundtable meeting with the Saudi and American private sector discussed ways to promote bilateral trade between the two countries and investment in major sectors of the Kingdom and to discuss the challenges and obstacles facing the private sector in trade and investment, Empowering SME partnerships and strengthening SMEs’ business capacities, and cooperation between the private sector of the two countries in the areas of innovation, technology and localization, trade and investment opportunities in Saudi Green and Middle East Green Initiatives, in addition to many other themes in various common bilateral areas.

The Saudi delegation participates in many meetings and workshops, such as “Middle East and USA: Investments & Opportunities” with the participation of American ambassadors in the Gulf region, And the Opening Session of the SelectUSA Investment Summit, chaired by US Secretary of Commerce Gina Raimondo.

The delegation also participates in the fifth GCC-US Trade and Investment Dialogue, a discussion session “Invest Saudi in Tech”, the United States-Saudi Forum “Investing in Our Shared Future”, the GCC-US Roundtable meeting, and the Saudi-US Roundtable meeting with the participation of the private sector on both sides.

The delegation includes the Ministry of Commerce, Ministry of Energy, Ministry of Investment, Ministry of Environment, Water and Agriculture, Ministry of Education, Ministry of Tourism, Ministry of Economy and Planning, Ministry of Communications and Information Technology, Ministry of Industry and Mineral Resources, Ministry of Human Resources and Social Development, General Authority for Foreign Trade, Saudi Food and Drug Authority, Small and Medium Enterprises General Authority, General Authority for Military Industries, The Saudi Standards, Metrology and Quality Organization, Saudi Authority for Intellectual Property, Saudi Data and Artificial Intelligence Authority, Zakat, Tax and Customs Authority, Research, Development and Innovation Authority, Public Investment Fund, Saudi Green Initiative, Federation of Saudi Chambers, US-Saudi Business Council, National Center for Vegetation Cover Development and Combating Desertification, and many interested Saudi companies.