LONDON – Ambassador of Saudi Arabia to the United Kingdom Prince Khalid Bin Bandar Bin Sultan chaired an ambassadorial roundtable webinar, organized by the Arab British Chamber of Commerce (ABCC) here on Wednesday.

The webinar focused on the Kingdom’s post pandemic economic environment and the emerging vast opportunities for the UK-Saudi bilateral trade and investment.

Baroness Symons, chairperson of ABCC Board of Directors, presided over the webinar session, which was also addressed by Bandar Ali Reda, CEO and secretary general of ABCC, and Ajlan Al-Ajlan, chairman of the Council of Saudi Chambers and the Riyadh Chamber of Commerce and Industry.

Speaking on the occasion, Prince Khalid Bin Bandar said that the year 2020 enables us to cope with the unprecedented Covid-19 pandemic situation. He emphasized that the Kingdom of Saudi Arabia, even before the outbreak of the pandemic, had embarked on drastic changes through its Vision 2030 to restructure the country and build a new nation with transformation of its economy from an oil based one into one based on energy sources.

“Saudi Arabia has facilitated the procedures for carrying out commercial activities in the country so as to invest available opportunities in a number of sectors.”

For his part, Sheikh Ajlan Al-Ajlan highlighted the importance of enhanced solidarity and cooperation at this time more than ever to face the challenges. He stressed the role of the Council of Saudi Chambers in promoting economic relations with countries and the United Kingdom, especially after its exit from the European Union, indicating that the volume of trade between the two countries reached about $5 billion.

In his speech, Bandar Ali Reda noted that the epidemic has accelerated the transformation of the Saudi economy, especially in the digital realm, saying the Kingdom’s economy would continue in this direction toward the recovery.

He pointed out with pride that the Kingdom of Saudi Arabia today is like a hidden gem in which many sectors and potential commercial opportunities are available for investors from all over the world. Reda described ABCC as a focal point for Arab-British cooperation.