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The first European Chamber of Commerce in the Gulf region is set to open in Riyadh next week, Wego has learned. Luigi Di Maio, the EU’s special representative for the Gulf region, mentioned in an interview with Arab News that this chamber will help increase trade and cooperation between Saudi and European companies.

 

The EU delegation in Riyadh, the Saudi Ministry of Investment, and the Ministry of Trade have worked together to make this initiative possible. The chamber aims to take advantage of opportunities presented by Saudi Arabia’s Vision 2030 program and the EU’s initiatives, such as the European Green Deal and Next Generation EU.

Saudi Arabia’s Vision 2030 reform program has changed the country’s economic structure and attracted global interest from investors. Di Maio noted that Saudi Arabia’s economic goals are changing global perceptions and attracting new investors and entrepreneurs.

Di Maio also highlighted Saudi Arabia’s growing diplomatic and economic influence in the region. He pointed out the importance of Saudi Arabia’s efforts to reduce tensions and promote regional stability, and the strategic partnership between the EU and GCC countries, especially Saudi Arabia.

The opening of the European Chamber of Commerce in Riyadh is a significant step in improving Saudi-European trade relations. It represents the benefits of collaboration between the two regions. The chamber’s opening signals a new phase of economic cooperation and partnership, which could provide numerous opportunities for businesses in both regions.