Lisbon — Addressing unprecedented global challenges, especially in climate change, sustainability, and post-pandemic economic recovery, demands innovative solutions. Collaborative efforts between the public and private sectors in Saudi Arabia and Portugal can play a pivotal role, said Saudi Minister of Economy and Planning, Faisal F. Alibrahim.
At the Saudi-Portuguese Investment Forum in Lisbon, Alibrahim highlighted that the 6th session of the Saudi-Portuguese Joint Committees is occurring at a time when bilateral trade is seeing remarkable growth.
“From 2021 to 2022, Saudi exports to Portugal jumped by 50 percent, and imports from Portugal rose by nearly 40 percent, resulting in a trade volume of $1 billion. This emphasizes the potential for increased collaboration between the two countries,” said the Saudi Minister of Economy and Planning.
The Portuguese-Saudi Investment Forum, organized by the Ministry of Investment, aligns with the sixth session of the Saudi-Portuguese Joint Committee.
Alibrahim, and the Portuguese Minister of Economy and Maritime Affairs, António Costa Silva, co-chaired the Saudi-Portuguese Joint Committee’s 6th session in Lisbon. Senior public sector representatives from both nations participated.
They discussed ongoing and future initiatives, bolstering economic, investment, and trade cooperation, and enhancing private sector partnerships between the two countries.
During his official visit to Austria, Alibrahim engaged in a roundtable discussion with the Federation of Austrian Industries, which represents over 80 percent of Austrian manufacturers.
This forum offered a valuable platform for productive dialogue. Alibrahim emphasized the significance of tapping into mutual benefits for both nations through collaboration in industry, trade, and investment, highlighting the role of private sector partnerships.
Alibrahim also held discussions with the Minister of Labor and Economy of Austria, Dr. Martin Kocher, focusing on enhancing economic ties between Saudi Arabia and Austria and other topics of shared interest. Public sector representatives were present during this dialogue, which was a part of Alibrahim’s official visit to Austria.
Additionally, on the sidelines of his official visit to Austria, Alibrahim participated in another roundtable with the Federation of Austrian Industries, which accounts for more than 80 percent of manufacturers in Austria. He reiterated the importance of harnessing opportunities for mutual benefit through industry, trade, and investment collaboration, emphasizing the role of private-sector partnerships.