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Saudi Arabia is seen by market intelligence firms as the UK’s primary trading partner in the Middle East
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This workshop could further their collaboration, helping the Arab nation make its economy less dependent on oil export
Saudi Arabia on Friday, July 30, conducted a workshop in London where more than 80 British companies received a rundown of the innovation opportunities in the Middle-Eastern country, said local reports.
The companies were from various fields, like innovation, technology, space, research, and development, said the reports.
The workshop, organized by the Saudi Ministry of Communications and Information Technology and the Saudi Space Commission reportedly projected Saudi Arabia as a digital and logistical platform for the companies.
Organized with the aim of building partnerships between the communications and information-technology sectors in the two countries, it is also said to have highlighted to the companies the possibilities in the field of research, development, innovation, and space economy in the kingdom.
Saudi Arabia is seen by market intelligence firms as the UK’s primary trading partner in the Middle East, and this workshop could further their collaboration.
It would be especially helpful for Saudi Arabia, which is making an active effort to steer away from its economic dependence on oil and petroleum exports, and is trying to project itself as a hub for diverse businesses.
Hit by the double whammy of lower oil prices and muted demand for fuel due to the Covid-19 pandemic, the country is also wary of the world moving away from fossil fuels due to concerns over climate change.
